We’ve all believed some budgeting myths that simply aren’t true….
When I was in my early 20s, I had an epiphany and decided that I no longer wanted to spend frivolously and that I was going to start saving aggressively. I got so fired up after I read Dave Ramsey’s Total Money Makeover that I even wrote a letter to my parents detailing my new found knowledge and plan to change my financial situation around.
After creating a big binder for me to house all of my financial documents and budget sheets, I was ready to go. I actually created my first budget and gave myself a pat on the back for following through with the plan. Over the course of the first week or two, my excitement and motivation died down and shortly after, so did my efforts to budget. That budget went out the window real quick!
What happened? I dived all in, making sure that I would be able to stick to my goals but I was still unsuccessful. When I look back and think about what possibly went wrong, one thing keeps coming to mind.
I wasn’t realistic.
I created a super strict budget that didn’t allow any room for error or entertainment. It was boring and dry so I said to heck with budgeting. This doesn’t even sound right…I’m human!
I lied to myself.
Here’s a few of the very lies that I used to tell myself, which ultimately kept me miserable and struggling financially. You’ve probably told yourself some of these things too!
I don’t have the time to budget.
How long do you think it takes to simply plug in some numbers and let math do it’s thing? Of course the first few times that you create your budget may take a little longer, but you can’t keep using this as an excuse.
Your priorities need to be reevaluated if you’re finding yourself saying that you don’t have the time to budget. Your money should be at the top of your priority list. Taking out the time (few minutes) to create a budget is imperative if you want to boss up your finances. There’s no way around it.
Budgeting is boring.
If I had a dollar for every time that I heard someone say this I’d be rich (including my old self)! There’s a ton of things that we as adults have to do that’s considered boring. Yet these things still need to get done right? It’s called being responsible.
In order to get a grip on your finances, you have to accept your responsibilities and do what you gotta do. Please don’t let this excuse hold you back from reaching your money goals honey.
I calculate my budget all in my head.
Who are you trying to fool? I’m not trying to underestimate you by any means, but if you can do a budget down to zero dollars all in your head, then you my friend are something special and rare!
Here’s the thing: thinking about it in your head isn’t really considered a budget. Your budget needs to be written down on paper or in a spreadsheet, somewhere where you can track and update it easily. Writing out a budget is the first step towards taking control over your finances. I know you want that power right?
I don’t want to deprive myself.
A budget is not a punishment. Yes, you’re gonna have to cut back on some of the unnecessary spending but just because you’re on a budget doesn’t mean that you all of a sudden stop everything that you’re doing and become a penny pinching bore. You don’t have to cut out all of your fun and entertainment, just make sure that you have a plan. Build those activities into your budget and go have fun! Stick to that amount that you set aside though. You shouldn’t be digging into your grocery budget just to buy an extra drink or two at happy hour. Know your limits!
Now let’s talk about it. What excuses have you been making to avoid creating and sticking to a budget? Sound off in the comments, I wanna hear from you!
P.S. If you thought that this was insanely awesome or made you think about someone that you know, please share this with them!
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