I came to the conclusion that budgets don’t work for everybody because it doesn’t really work for me. Especially since I have a significant other and we don’t always see eye to eye. Yea a budget helps me to see if I’m spending more money than I’m taking in but I’ve learned to use Outright.com to keep track of that. Yea it’s for small business but it does the job of keeping track of my total income and expenses without having to worry about setting up categories.
My “You Know” theory
My theory is that we all know what we’re doing when it comes to spending. We know if we’re spending too much but we just don’t want to face up to it. Well you won’t be helped by this. In fact, you really can’t be helped by any plan until you change your attitude. Go get help.
Cut down on the extras
For everyone else that actually wants to change their situation try this idea. Just cut out half of what you do. No I’m not talking about fixed expenses like rent or mortgage. I’m talking about things you can actually control. If you eat out for lunch 5 days a week, try to make your own lunch 2 days or even 3 if you’re feeling spunky. If you don’t want to cut out buying lunch then cut out something else more than half. Instead of shopping every weekend so shopping just once a month. Sign up for Outright.com so you can see how you’re making progress.
No this isn’t going to work for everyone but if you’re having a problem sticking to a budget or you don’t know how to start, try this.
This is going to teach you to sacrifice. Yea it’s a tough word but it’s just that, a word. It’s not going to kill you to sacrifice, but it will make you stronger financially. I tried looking up another word for sacrifice that was nicer sounding but there isn’t one. But here’s a word that is good, Freedom. Freedom to live without the stress of debt and without knowing how you’re going to pay to fix your car because it just broke down.
Start now
Don’t wait to have to sacrifice when you’re in a crunch and have to stop everything you’re doing. Sacrifice a little now so you’ll get financial freedom. So don’t start a budget, start sacrificing.
What do you think about this?
Simple Home Budgeting
Budgeting Help – Where Did Your Money Go?
Budgeting: For The Just Getting Started
{ 7 comments… read them below or add one }
This was a good post to get people motivated to start a budget
Tracking my expenses was the #1 thing that helped me see what I was doing, and it was quite shocking actually!
FB @ FabulouslyBroke recently posted..Fascinations from around the Web
I’d have to disagree. I was convinced that budgeting didn’t work for me, until I saw my debt repayment was going nowhere. I MADE it work and now it’s just automatic.
Besides that, cutting out stuff often doesn’t open up large enough veins of cash. Again, when I was in debt, I cut to the bone and still only eked out nickels and dimes. To save dollars, you’ll have to cut fixed expenses (rent, cable, cell phone, car note or insurance) and/or increase your income (which, admittedly, is easier said than done). Just cutting out soda or the occasional lunch really isn’t going to have the same impact. Also, cutting half your spending without a particular goal (debt freedom, home downpayment, etc.) is just going to feel like punishing yourself for no good reason, so you won’t stick to such a drastic change.
I think this could be a useful exercise to show yourself just what you can live without on the path to something else you really want or need. But doing it for the sake of doing it, or to avoid doing a budget, isn’t creating lasting behavioral change — and that’s what most people need to truly get their spending under control.
Debt Hater recently posted..Debt Hating 101- How to Spend Your Money Where Your Heart Is
That’s a good point. Perhaps I could have added in what to do with the extra money that’s left over. I’ll keep those points in mind for future articles. Thanks for the great comment
I’m not really a budget kind of person either.
I’m just a less-is-more type of person, and it works itself out very well.
Dividend Monk recently posted..6 Dividend Companies with Huge Moats
I don’t do very well with the budget sheet either. I update it when there is a big change like buying a car, but otherwise it’s just saved in a file. I cut down as much fixed expense as possible (cable TV, etc..) Then I gave myself $100 cash allowance every week. This way, you just figure out how much you can spare for spending money and don’t have to track it. Then I use the cash for spending money and grocery and such. If I want an expensive item, I save up part of the cash in an envelop. I haven’t been able to stick with it 100% of the time, but I try.
Yea me and my fiancé have a specified amount a week for spending money. I don’t really spend any so she usually ends up with mine :)
I hear you. I tried the bucket for this bill, bucket for that bill method and I was always borrowing from one bucket to fund another bucket. It just didn’t work for me.
JAMES recently posted..Straight Talk Cell Phone Plan Review – Part 2
{ 3 trackbacks }