4 Reasons Your Budget Isn’t Working

January 11, 2012  |  
If you’re the type of person who is always having financial troubles, someone has probably already told you that you need a budget. Controlling your money gets you closer to the ultimate goal, whether it’s a debt free credit rating, a new home or the vacation you always wanted. If the budget you’re on now isn’t giving you the results you’re hoping for, it might be one of these common problems:
You’re allergic to it.
Some people hear budget and break out in hives. If you’re one of them, you may have started out budgeting with a  chip on our shoulder or attitude in your heart. Remember that budgeting is nothing more than keeping a close eye on what you bring in and what you can spend. Instead of looking at it as a reason why you can’t spend a certain amount of money, look at it as knowing exactly how much money you have to spend on the things you need and want.

It’s Based on Someone Else’s Income.
You can’t finance a champagne lifestyle on a beer income and if you try, you will always find yourself coming up short. We all know just how dangerous trying to keep up with those Joneses can be. Don’t let it be the reason that your budget doesn’t work out.

It’s Too Complicated.
A budget doesn’t have to be a complicated work of art. There are lots of tools out there to help you figure out your finances but you don’t have to overthink it, either. A sheet of notebook paper is just as effective at some of the high-tech programs out there. Just sit down with your paystubs and your bills and figure out how much you can pay and safe based on your circumstances. If you come up short, adjust your spending until you don’t. It’s that simple.

It’s Too Strict.
Remember that ish happens! Always leave a little leeway in your budget for emergencies and variances. By making your budget too strict, you’re setting yourself up for failure. And if you get off track one month, don’t let that distract you from the big picture. Jump back on that horse next month and in no time you’ll be a budget pro.

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