Now that baby is truly eating food, our grocery budget is growing and growing (and growing and growing). Because of that, our family is in a grocery budget boot camp. We are cutting down costs, tightening the belt, whatever you want to call it. All of this has me thinking about women I know who have told me they’ve never had a budget, or that the thought of a budget is terrifying/overwhelming/scary to them, or that they just don’t even want to mess with budgeting. You guys, I’m here to tell you that having a budget doesn’t have to be a burden. So, we are going to do a 4-week series on budgets! WOOHOO! This is something that I am so excited about, and think is so important. Let’s walk through this together!
This week, we are going to look at what a budget is and lies we often believe about budgets. For those of you sitting here wondering, “what is this girl talking about?”, a budget is simply this:
an outline of how much money you have and where that money needs to go
Plain and simple. So why do we run and hide when we hear that word? Why is the thought of a budget enough to make us want to throw in the towel? I believe a big part of why is that we believe many lies about budgeting. We can’t hit on all of these, there’s just no way. But I want to share 4 of the BIGGEST lies, I think, women believe about budgets (and why they aren’t true).
#1: As long as I’m spending less than I make, then I’m okay.
If you are currently spending less than you make, GREAT JOB! That is a wonderful first step. But here’s the problem with this: if you aren’t tracking your spending, you have no idea a) where your money is going and b) no way to tell for sure that you’re spending less than you make. In order for us to steward our money well, we need to know where we are spending our money. We need to be sure we are allotting enough for saving, tithes, groceries, etc.
#2: Having a budget is too much work.
Yes, having a budget is going to be some work. And honestly, it’s going to take some discipline. However, having a budget does not have to be a huge undertaking. Once you have your budget set, it should take no more than 30 minutes a week (TOPS) to keep it up. If 30 minutes sounds like a big deal, then there are plenty of resources that can help lighten that load….I’ll share more on those later 😊
#3: Having a budget will make me boring.
If we are being honest, many of us don’t have a budget because we don’t want anything to tell us what to do. We feel that having a budget will restrict us and keep us from doing what we want. At times, your budget will tell you no. But here’s the beauty of budgeting – having a budget means that you’ve consciously set aside amounts for different categories. This gives you the freedom to spend without stressing. Want to buy a new shirt? If you have the money in your budget, you can buy that shirt without feeling guilty. Setting those guidelines for your money helps you to know what you can spend and when, without feeling bad or anxious.
#4: I’ll handle it when I’m married/I have a better job/my husband decides to do it/fill in the blank here.
You guys, no. I understand this thought – I lived this thought. But if not now, then when? Procrastinating on a budget is like procrastinating on a doctor’s appointment. Both are important, and there’s no better time than now. The longer we wait to have a budget, the harder it will be to incorporate into our daily lives. There are always a hundred reasons not to do something, but I promise it’s worth it.
So there they are, 4 reasons that often keep people from having a budget. If you don’t have a budget, what’s keeping you from it? What lie are you believing? If you have specific questions about budgets, please feel free to reach out to me. I don’t know everything, but I’d love to share what I do know! Next week, we will look at why you need a budget. See you soon, friends!