4 Budgeting Tips for People who HATE Budgeting
1 in 3 Households currently live on a monthly budget according to a recent Gallup poll. I knew people hated budgeting, but not this much. The even bigger issue is that 76% of people live paycheck to paycheck. That means people are living life on the edge with their finances and are worried that with each swipe of the card a decline will follow.
There has to be a better way to do things? Intro the B word…BUDGET. I know it isn’t the most appealing thing to look at. However, I have put together 4 tips for people who hate budgeting, to help ease the pain.
1. Splurge on Yourself
Do you ever feel guilty about getting things for yourself because you know you don’t have the money? A budget will allow you to spend money without feeling guilty. If you put a shopping section in your budget, then you have already allocated those funds to your shopping spree.
If you live for coffee every morning at your favorite place, don’t cut that part out, set the money aside each week so you can fill your craving. As long as you set the funds aside you won’t feel guilty about spending money.
2. Oh Snap! Fund
Yeah stuff happens, I know! Budgeting is not about sending you to a life of minimalism and no fun. The biggest question I get is what to do when unexpected expenses arise. You weren’t planning for a surprise birthday, or a random night out with friends. Having a miscellaneous section in your budget will help catch any “un-budgeted expenses”.
I know we have the best of intentions when we start to budget, and then we get caught on that one thing that we didn’t budget for. Next thing you know, we are done with budgeting because “It’s just not for me”. Or “It doesn’t fit my life style” LOL Stop 🙂 Put in an “Oh Snap” section and stop with the excuses.
Related Post: 3 Sneaky Budget Killers
3. Have a Goal
A goal is the first step in my 5 Step Guide for a reason. When you are budgeting it can seem like a daunting task that gets very repetitive. Have you ever asked yourself, “Why am I budgeting anyways?” Is it to pay off debt? Or to save up for something? Maybe, it is even for the simple fact that you want to make sure you don’t spend more than you make each month.
Having a goal with money will help you stay motivated to stick to your budget. When I was saving up to buy my condo with cash, I knew that all I had to do was stick to my budget and after 2 years I would reach my goal.
4. Be Old Fashioned
Sometimes technology can over complicate things. There are apps for everything now. A lot of people I talk to say they don’t budget because the app they used is too confusing. I agree! I actually use the excel spreadsheet I have on the blog, and then each week I use a notepad to track my weekly expenses.
On the notepad I write out my budgeted expenses each week. (Groceries, Miscellaneous, Eating Out, Etc.) As I spend money throughout the week I go to my notepad, which I keep in my car, and minus from the category I spent in. This takes technology out of the excuse and makes it simple to do for me.