The good news is, they're not as mandatory as you may think.
"Take those budgets you've been struggling with and throw them in the garbage," writes self-made millionaire David Bach in his book "The Automatic Millionaire."
Instead of budgeting, pay yourself first, says Bach. Meaning, the first dollars out of your paycheck should go to you: your retirement accounts, your investments and your savings. Next, cover all of your fixed costs, such as rent, insurance and car payments, and then live off of whatever is left over.
It's the opposite of budgeting, but it works, says Bach: "The reason [most people] think they need a budget is to help them figure out how much to pay everyone else, so at the end of the month — or year, or their working life — they will have something 'left over' to pay themselves. Pay yourself first and you change everything around you for the better."
He's not the only self-made millionaire who says you don't need to be good with budgeting to take control of your finances.