When do most experts agree it would be too late to start using a budget?

Most experts agree that it is never too late to start using a budget because budgeting serves as a valuable tool for managing finances at any stage of life. Regardless of one's age or financial situation, creating a budget can help individuals understand their income, expenses, and savings potential, leading to better financial decisions.

Starting a budget can be beneficial for anyone striving to achieve financial stability, meet savings goals, or prepare for major life events. For instance, individuals in retirement can benefit from a budget to ensure their savings last and that they allocate funds appropriately for living expenses, healthcare, and leisure activities.

In essence, the principle behind budgeting is that it encourages proactive financial management, which can lead to improved financial health, confidence in spending, and increased savings, no matter the timeline of one's life events or financial circumstances.