People will come up with almost any kind of excuse in order to not do something they don’t want to do. No, I am not talking about those awkward family gatherings around the holidays or blind dates. I am talking about budgeting. No matter how you read it, the word just doesn’t sound fun. There are so many excuses, reasons, fears, and myths why people decide not to budget, but in order to have a handle on your financial journey, it is necessary to have a budget.
MYTH: BAD MATH SKILLS EQUAL BAD BUDGETING SKILLS
TRUTH: I will be the first to tell you, math is not my specialty. AT ALL. I am a beginner to this whole “Financial Responsibility” thing and it has been a trial by fire experience none the less. In my experience it is not so much about the mathematic skill level but more about being a responsible and disciplined adult. If someone like me, who is absolutely terrible at math, can create a budget I am certain you can too. Plus, there are so many apps and websites that are out there ready to help you.
MYTH: CREATING A BUDGET IS STRESSFUL
TRUTH: Creating a budget is actually just the opposite of stressful. For those of us that are more “Type A” you have to have a plan, or a list to help guide your day-to-day behavior. Personally, a list keeps me more organized and responsible. A budget is simply a list of how to spend money. Sitting down and crunching numbers for a few minutes each week or each month is nothing compared to keeping track of all of the numbers adding up from each bill and purchase made. Being able to know, without a shadow of a doubt, the financial demand for each month is met ultimately eliminates stress.
MYTH: CREATING A BUDGET WILL LIMIT FUN ACTIVITIES
TRUTH: Actually, there is freedom in creating a budget. No two budgets are the same. Having a budget promotes individuality. Meaning, if you loathe cooking and would rather eat out you can budget more for eating out expenses, rather than grocery shopping expenses. Having a budget doesn’t eliminate fun activities or the ability to see friends; it just requires planning for those activities. You can create your budget in a way that fits your lifestyle without breaking the bank.
MYTH: CREATING A BUDGET IS DIFFICULT
TRUTH: This is a ridiculous excuse. There are so many tools out there to help you create a budget. We live in a world that revolves around our smart phone. Pull that bad boy out and just do some research. There is Pinterest, YouTube, Apps, and Facebook for crying out loud. People are more than happy to share their opinions these days. Post a status asking for help and I am sure someone will comment and be willing to help you get started. The first budget will be difficult, but the more you budget the easier it gets. AND I will do you one even better, at the bottom of this blog post there is a link to eCO’s budgeting tool that is completely FREE to use. Follow that link and it will help teach you to become a budgeting pro!
MYTH: A BUDGET WILL BE THE SAME EACH MONTH
TRUTH: Life happens. Don’t count on your budget being the same each month. Accept the reality that some months you’re not going to be able to buy those concert tickets or that new pair of shoes that have been calling your name. I’ve already mentioned it once in this post, the great thing about creating a budget is no two budgets are alike. Creating a budget allows you the ability to plan ahead for expenses. You’ve got two family members with birthdays this month? Put it in the budget. You want to take a quick weekend trip to the beach next month? Put it in the budget. There will be the occasional surprise expenses, but budgeting allows you to be prepared to tackle those obstacles head on.
Ignore the myths and all the reasons why NOT and start taking control of your financial journey. There is no better time than the present. It definitely won’t be easy, but it will be worth it. It may be daunting at first but before long it will become second nature. It all boils down to being responsible, disciplined and intentional.
You know that link I mentioned before? Here it is! Not only will it help you with budgeting but it will also help you learn more about Investing, Mortgages, Retirement, and the list goes on and on. Why would you not take advantage of this FREE service?
Check it out HERE!