Byline: Jane Bryant Quinn
All financial planning starts with a budget. But many people seem constitutionally incapable of keeping one.
If that describes you, planner Michael Davis of the Resource Consulting Group in Orlando, Fla., has a better idea. He knows that you'll probably spend the money you see in your checkbook. So he spirits some of that money out.
He evolved his system, he says, because "talking about budgeting falls on deaf ears." People tend to do all right with their regular monthly bills. "But then a big item comes along, like a vacation, and they don't have the money to pay for it." So they put it on their credit cards.
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