Budgeting is amoral. That is, budgeting is neither good nor bad. While there is a great deal of research-based literature on corporate budgeting, many writers, for or against budgeting, bring their unique biases to the table when they share their views on this polarizing financial topic.
I am no different with my biases against budgeting, but at least I can be transparent with my beliefs. I have no desire to proselytize you to my way of thinking. Instead, I only want you to understand where I’m coming from and why I view the annual budgeting process as both costly and ineffective. Plus, I’ll share what I think is a better alternative to budgeting.
First, we’ll need to define budgeting. Is what you are doing really a budget, or is it a plan? Let’s find out.
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