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A financial guru has criticized strict budgets, advocating for intuitive spending instead.
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Budget culture is seen as restrictive, leading to potential "budget burnout."
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Experts suggest balancing intuitive spending with realistic budgeting for financial health.
Saving money and paying off debts can feel like an endless cycle, which is why financial gurus are so keen on budgeting.
But Dana Miranda, a certified personal finance educator, told CNBC Make It in a recent interview that strict spending plans can be "toxic."
Miranda, who is also the author of "You Don't Need a Budget," told the outlet that budget culture is based on "restriction, shame, and greed," and there's little concrete evidence it works in the long term.
Instead, she recommended "intuitive spending" and thinking about your money "moment by moment." Rather than punishing themselves for overspending, people should reward themselves when they save, Miranda said.
Not all financial pros are in agreement, though.
Katrin Kaurov, the CEO and cofounder of the social financial platform Frich, told Business Insider it's true that "everyone hates budgeting."
But she isn't convinced intuitive spending is a good alternative. For some, it can increase debt and result in purchases they don't need.
To budget or not to budget
Doug Carey, a chartered financial analyst and founder of the retirement and financial planning software WealthTrace, told BI that whether to budget is a question that comes up with many of his clients.
Generally, he said he disagrees that people must have a set budget and stick to it. As long as someone can max out their 401(k) contributions and save enough for emergencies, "they can use their intuition for spending."
For these people, it is pretty obvious when they are spending too much, Carey said, because they'll dip into savings.
Budgets can be too limiting for people who are more flexible in their income, such as freelancers or contractors, for example, because these systems don't often allow for easy changes.
Carey said the "micromanagement" of daily things can also "obscure the bigger picture of your financial health," such as long-term financial goals such as retirement savings or building wealth.
"This can create a negative association with managing money and lead to 'budget burnout,'" Carey said. "Many give up on budgeting when they feel like they cannot live within the strict limits of the budget."