5 Excuses Why You Won't or Don't Budget and How to Solve Them
Budgeting is the key to getting your finances back on track. It is your biggest tool to take control of your money, your spending and your savings. Using a budget is similar to using a fitness tracker to help you lose weight. If you can successfully budget, it will be much easier to reach your financial goals. You should be able to accomplish the things that you want to in your life. When your money is under control, it is a lot easier to find the time to do things that you love, and you can really enjoy them because you are not worried about money all of the time.
It Takes Too Much Time
One of the biggest complaints I hear about budgeting is that it takes too much time. Sitting down and writing out the budget is just the first step in budgeting. Tracking your spending, budgeting meetings and on and on. It can be time-consuming to budget, especially the first few months as you move money around to cover different categories. One of the keys is to find a good budgeting system for you. It helps if you can enter your purchases when you make them no your phone. This means that you only have to take a few minutes at the end of the day to glance at how you are doing spending-wise.
I Don’t Have Enough Money to Budget
Another common reason people do not budget is because they feel too broke to budget. It can be scary to write down everything and realize that you do not have enough to cover everything that you want to do. Many of these people hope that things will magically work out and that they will squeak by if they do not pay too close attention to the numbers.
If you are in this situation, it is essential that you budget so you can make the best choices with your money. A budget can also help you see areas you can cut back and make choices to change your situation so you can earn more money.
I Don't Like Tracking My Spending
Another reason that people do not budget is that they do not like the hassle of tracking their spending every day and seeing how much they have left.
It can be time-consuming and stressful to always have to check on how much you have in each category. The envelope method is a great solution for this problem. You use cash for the majority of your categories and when the cash is gone, you know you cannot spend anymore. For some categories, you may want to divide it out so you still have money at the end of the month for your groceries or gas. This method can help you stop blowing your budget at the beginning of the month.
My Spouse/Partner Won’t Budget With Me
If you are married or living together you may want to budget, but it can be difficult if your significant other is not on board with you. If you are not married, you need to only combine the household expenses, and create a household budget so you are both contributing fairly. This means giving the same percentage of your income to the household budget. If you are married, then you should be sharing all expenses. This can be a serious issue, and you may need to consider counseling if you cannot work together on this. It helps to start from scratch and not be too controlling of the entire process.
Budgeting Makes Me Feel Bad
Another reason that people do not budget is the way it makes them feel.
Some people like the high and rush that comes from shopping. If you have this issue, you may need to get help for spending issues. Other people feel frustrated because the budget does not work out the first month or two and then they give up. However, it is normal to have bumps in the road and after about three months, things tend to go a lot more smoothly. Do not give up or get discouraged, keep trying and adjusting and eventually budgeting will get easier. If you do not want to budget because it makes you feel like you do not have enough to do the things you want, then you need to change your situation. Paying down your debt and looking for a better paying job can help you do this.