The idea of a Real Budget seems straightforward enough, some might even say, “sexy.” (J. Money) So why do so many quit out of frustration? Here are the 8 steps to set yourself up for failure.
8 easy steps to failure
- Make up the numbers you think you are spending in each category. Don’t actually track them first to see if these numbers have any basis in reality. Just guess.
- Pull another number out of thin air to replace your best guess, for what you think you “should” be spending.
- Make a haphazard attempt to track your spending during the month.
- Don’t change any habits, just let that money run out of your budget category twice as fast as you thought it would.
- Be really grumpy at the end of the month because you have no more money for food, gas, or to go have fun.
- Arbitrarily move the numbers around for next month.
- Assume budgets are stupid, and you aren’t the type of person a budget could help.
- Then quit…..that is, until your money problems give you panic attacks in the middle of the night, where you shall begin at step one again.
If I am lying, I’m dying. This is how 90% of the folks I talk to start “budgeting”. Is it any wonder people fail? Or think it’s a waste of time? So what is the alternative? Use a Real Budget (coming soon). If your financial house is already in order you can try the Easy Budget.
Was this a bit like your first attempt at “budgeting”? How do you encourage people when this is what they are starting with? This sums up my first 5 or so attempts to budget after Mr. Montana and I were married!