There are a lot of people who feel that budgeting will be too difficult. This is probably because of a few myths that there are surrounding budgeting and so these are going to be addressed so that you will hopefully no longer be put off using this method of money management.
I will Have to Give Up Everything I Love
It is easy to think that by putting together a budget it will mean that you will be forced to stop buying all the things that you really like. This is not true though as the idea of a budget is to manage your money and be in control but not to deprive yourself. Once you have allocated enough money to pay for your essentials then you will be able to use whatever is left as you wish. This means that you could use it to repay any same day loans you might have or to save, but you could also use all or some of it to buy yourself treats. The idea is that you do not overspend, which means that you may have to spend less on treats than normal but you may not need to go without. You may even be able to reduce how much you are paying for essential items, perhaps by using cheaper suppliers or retailers and this could provide you with money for spending on treats for yourself. If there is nothing left for treats, then you could try to find methods to earn more money so that you are able to buy more using that money. However, without budgeting, you would never know whether this is something that you will need to consider doing.
The Maths Will be Too Hard
It can be easy to think that you will not be able to work out the maths. However, it should be pretty simple. All you will need to do is to add up how much money you have coming in each month and how much you spend on essentials. If you struggle to do this, then you could ask someone to help you, perhaps a friend or family member or someone at your bank. Most people have a calculator, even if it is one on their phone and they will be able to use that to add up the amounts to make it easier.
I Won’t be Able to Stick to it
It can be a worry, that you will not feel motivated to stick to it. However, if you set a reasonable budget and make sure that there is some money available to spend on fun things, this should help. It can also be a good idea to keep in mind why you are budgeting and this should help to motivate you. Whether it is so you can feel more in control, to help you make sure you pay everything you need to on time, to save more money or repay a loan then you need to keep this in mind. It can even be wise to write the reason down and put it in a prominent place and then every time you see it make sure you read it as a reminder. Then you will always be able to remember that there is a good reason for doing this. You might even want to write a quote or phrase that will inspire you, so that you feel determined to keep going with it. You do not have to make it hard for yourself, you can take things slowly and make changes in small steps so you get more used to watching what you are spending and this will help the transition to be easier for you.