Why isn't everyone worried?

As my forthcoming book, Don't Make a Budget: Why It's So Hard to Save Money and What to Do About It, approaches its publication date, I thought I'd post a few words on who's not worried about the financial crisis.

Yes, there really are people just like us who are untroubled by the economic distress that has dominated the news these past several weeks. And no, they're not living on another planet. How can they not be worried? The answer is simple:

They have enough money, and they know it.

No, most of them didn't inherit it. They worked for it. But then they did something that most people don't do (or at least don't do enough).

They saved some of their money. They probably saved a little out of every paycheck.

I've heard one "financial professional" after another state categorically that you can't expect financial success if you don't budget. But they're wrong. You don't have to budget to save money. You just have to spend less than you take in, by a large enough margin, for a long enough time. And you don't need a budget to do it.

Paying yourself first is a perfectly satisfactory way to save money, and it can be very effective. In my experience, the saver who pays himself first is more likely to be successful saving a substantial amount of money, to take less time to do it—and to enjoy the process far more.

I'll have more later this week on the subject of saving money. Until then, please take a look at the poll on this page. When I ask my audiences how many of them have tried budgeting, the number is surprisingly small. Please add your voice, and let me know if you've ever tried to make a budget.

And please share your comments on what you'd like to see me cover in these blog posts about how to really save money out of every paycheck.

Copyright © 2008 by Kenneth F. Robinson, all rights reserved.