Biggest Excuses for Not Starting a Personal Budget

The power and effectiveness of creating a household budget and sticking to it have been proven over and over, yet so many people still find a myriad of excuses as to why they cannot start a budget. Here are few of the most common excuses, and why it is time to push past the wall and take control of your financial health:

TIME CONSTRAINTS: Although taking the time to create an initial budget can be a time-consuming endeavor, once the framework is established, it takes less and less time to maintain and implement moving forward. Time is money, so it is absolutely worth your time to invest a little effort now in order to save more money in the long run.


PROCRASTINATION HABITS: It is easy to delay saving and budgeting, but sooner or later this will catch up with you. Don’t let life get in the way of doing the most important thing that you can do today to guarantee future financial health. NOW is the time to sit down and create this invaluable framework of guidance.


INCONSISTENT INCOME: Yes, making and sticking to a budget becomes more difficult when the income level varies from month to month. However, the fixed expenses are consistent regardless of inconsistencies in income levels, thus the budgeting is still a necessity. Using an average income in your calculations and building a buffer for the lean months are two common tools.


DENYING THE TRUTH: Sitting down to work out a budget can be a scary proposition because it forces you to examine where every penny is going. Yet, that is the point. You will never create a healthy financial life without knowing where all of your money is going each month, so now is the time to take control, regardless of what information you learn. Remember, knowledge is power.


BUDGETING IS HARD: Even the most math-deficient individuals can create a basic budget. Don’t be scared off by the fancy spreadsheets and electronic apps that some people use to manage their household finances. There are a number of simple and intuitive programs to assist you in budgeting. For those looking to keep things extra simple, a piece of paper and pen and calculator will suffice.