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I recently did some random surveys, where I ask people questions about budgeting. Budgeting is a necessary evil but no one wants to do it and I couldn’t figure out why? Because it’s a very simple process. I even share some simple steps in my post titled How To Create a Budget in 3 Easy Steps. So I said to myself, “when in doubt – ask.” So I asked people everywhere I come in contact with, friends and family, clients and social media connections, these three questions:
I received a lot of different responses. One response was even “trying to get my husband on board.” I had to laughed at that one. Wouldn’t you know sometimes I have that same problem. So I asked around and the most common responses I got were: Not having enough money; Having to create the budget; and Sticking to the budget.
Well let me tell you that last one resonates with me in a big way. When I graduated college and started getting a real paycheck I moved out of my parents house within six months. And I haven’t been back yet! One of things I realized very quickly was I needed to make sure all my bills for paid before I could spend money on what I wanted to. I already knew I had a shopping problem. Big secret right? So I created a budget for each paycheck. I would budget six to eight months at a time so I would know when I would have the money to go holiday shopping or shopping for myself, on trips and even which months I could make lump sum payments to get out of debt. This little schedule was great . In fact, I still use it to this day.
As time went on, I could never figure out why I didn’t have enough money. Then I would get a new job with a higher salary but the same thing would happen. It was years before I realized that I was good at creating a budget but I sucked at following the budget.
So to help you avoid or to stop having the same problems I had, here are solutions to the top three responses.
Now it’s your turn. What frustrates you about budgeting? What challenges do you face with budgeting? What would make budgeting easier?
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