Never jumped on the budgeting bandwagon?
A similar 56% of survey respondents said they didnt know how much money they spent last month.
But theres a good case to be made for tracking your money.
Feeling overwhelmed? Create a budget that works for you with ourbudgeting bootcamp!
Just 6% of Americans said they dont budget because they know theyll overspend anyway.
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These results didnt particularly surprise Rebecca Wiggins, executive director of the Association for Financial Counseling and Planning Education.
But taking the time to create a meaningful spending plan goes beyond debits and credits, she said.
What Else Our Spending Reveals
The Penny Hoarder asked people about their spending and budgeting habits broadly.
Clearly, we have some dirty little secrets.
Youre the master over your money.
If your first budget isnt serving you well,scrap it and try a new one.
You might also consider simplytracking your expensesrather than developing a full-blown budget.
Budget or no budget, we all want to live our best financial lives.
Survey responses are weighted so that each response is representative of the U.S. population.
Nicole Dow is a senior writer at The Penny Hoarder.
Chris Zuppa, The Penny Hoarders multimedia content creator, contributed to this report.
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