Ask people why they don’t use budget for their expenses and you’ll hear a lot of reasons that sound valid, unfortunately, these reasons are mere excuses.
Budgeting helps and guides your spending. However, if you have decided to not to budget because of some reasons then you need to think through those reasons again.
Trust me, the same excuses that stop you from making budget on a monthly bases could prevent you from reaching your financial goals.
Here are some of the common excuses people give for not using budget for their expenses.
1. My income is not regular so I can’t budget
If you have a job that relies on tips or commissions, or a job where delaying employing salary is a norm, you’ll most likely not have a regular income. However, no matter how inconsistent your income is, you still need budgeting to help your situation. After all, having a budget won’t make you spend, it’ll only help you control how you spend the little you have.
2. My expenses are always changing
The opposite of the irregular income excuse is the belief that your expenses are too irregular to be able to properly budget. If your expenses are always changing, it probably mean you spend on both needs and wants, no priorities. If you continue this way, you’ll always be prompted to spend more than you earn and there’s no better way to deal with overspending than to budget and cutting unnecessary spending.
3. I am not good with math
Budgeting involves a certain level of calculation but it’s not as difficult as you think. It is so simple that all you have to do is to identify the sum of your expenses and subtract it from your income. If the result is positive, you’re on the right track, but if you get a negative answer, then you know you have to change something about how you are spending.