Easily the worst personal finance idea ever

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Your 2-minute guide to demystifying money and making you richer

The markets, year-to-date

• S&P 500: 6,051.27 ⬆️ 27.59%

• FTSE 100: 8,300.33 ⬆️ 7.50%

• Bitcoin: $101,346.00 ⬆️ 129.27%

• GBP to USD: 1.26 ⬇️ 0.87%

• GBP to EUR: €1.20 ⬆️ 4.27%

  (As of Friday market close.)

The worst personal finance idea we’ve heard

There are some terrible personal finance ideas out there. Moneyin2 has covered a lot of them — 100% crypto! Investing via astrology! Premium bonds! Luxury watches! CFDs! Stoozing!

But CNBC did an article recently that took the prize for describing the single worst personal finance idea we have ever heard: “You don’t need a budget.”

Budgeting is bad, according to author Dana Miranda:

“Budget culture is our dominant approach to money that relies on restriction, shame, and greed,” Miranda told CNBC Make It in an interview, likening it to diet culture.

“Research shows in budgeting, and we see the same thing with a much broader body of research in dieting, that that kind of restriction doesn’t work,” sh…