It doesn’t sound so scary, right? Yet so many of us avoid it like the plague.
Fear can prevent us from moving forward and accomplishing our financial goals. All we need is that first step to break through the wall and start seeing incredible results.
Here are 4 of the most common reasons why people avoid budgeting.
Fear- It Will Restrict My Spending
There’s something inside of us that cringes when we hear the word budget. A trigger in our brain goes off alerting us that we no longer get to buy the things we want. In fact, this is the most common reason people avoid starting a budget.
Reality- You Can Spend Guilt-Free
Don’t worry, you’ll still be able to buy the things you like when you’re on a budget. Remember that you’re the one writing the budget. You get to put whatever you want in there!
A budget allows you to spend money without guilt. Let’s say you’ve had your eye on a new rug for your living room. Simply put the rug into your budget and go buy it! As long as the numbers work, you can spice up your living room guilt-free.
When you already have money set aside for something, you don’t feel bad about spending it. Psychologically you know that the money you’re using has been assigned to that rug. No more wondering, “Could I really afford this?” The budget says you could.
Fear- I Will Realize How Broke I am
I know I had this fear for a long time. I’d imagine myself sitting down to do a budget only to find out we don’t make enough money to cover our expenses.
Reality- Most People Realize They Have More Money
When you sit down to make a plan for your money, odds are you’ll find out you have a whole lot more than you thought.
I’ve worked with people that have found up to $1,000 in their monthly budget that they didn’t realize they had. They were living paycheck to paycheck and that money was being spent somewhere. The problem was, they had no idea where they were spending it.
Money is an escape artist. It has a way of sneaking away when it’s not given an assignment. Once you purposefully assign each dollar to something, you’ll most likely see you have way more left over than you thought.
Let's say you sit down to do a budget and realize that you actually don’t have enough money to cover everything. Now you can be proactive and find a solution to the problem instead of pretending the it doesn’t exist.
Fear- It Will Just Cause a Fight with My Spouse
I’m not going to lie to you; you may get into a few heated arguments as you start to budget. However, there is a silver lining.
Reality- It Will Bring You Closer Together
After you get through those financial debates with your spouse, you’ll slowly find a groove in your budgeting. You and your spouse will find a common goal that you are working together to achieve.
When Andi and I started budgeting, we were focused on paying off our debt. While there were items we debated over, ultimately we knew that our mission was the same. Every large car payment or student loan payment was something we celebrated together.
Budgeting will also help prevent future fights. Have you ever been upset with a spouse because they spent too much on a shopping trip? Maybe they ordered an expensive item on Amazon without telling you. If you put these things in the budget, then there’s nothing to argue about.
Fear- No More Fun
Budgets are not synonymous with fun. The phrase, “it’s not in the budget” is a buzzkill in any situation.
Reality- Budgets Set You Up to Have More Fun
Maybe the act of budgeting isn’t fun, but the rewards can be.
Imagine being able to say, “It is in the budget” when a child asks you for something on vacation. Budgeting allows you to save money and have it set aside for any occasion.
Not to mention, a budget is the first step to getting out of debt. If you’re sick of sending a large chunk of your paycheck to the bank every month, a written budget will give you a roadmap to debt freedom. That means you have more of your income staying in your pocket each month. That’s when you can truly enjoy better vacations, restaurants, and family outings.
Budgeting is one of my favorite topics to talk about. Why? Because I’ve seen the incredible changes it’s made in my life and those I’ve worked with.
Ready to get your personal finances under control? I’d be happy to help. Email me at firstname.lastname@example.org to see how I can help you begin to take control of your income!
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