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Budgetting

7 effective ways to beat budgetting barriers

If you are faced with a mountain, you have several options.
You can climb it and cross to the other side.
You can go around it.
You can dig under it.
You can fly over it.
You can blow it up.
You can ignore it and pretend it’s not there.
You can turn around and go back the way you came.
Or you can stay on the mountain and make it your home.

Cera Nazarian

Even though budgetting is such an important task to our financial plans many people still can’t get down and draw a budget. While they have certain issues that may hinder them from doing so; they haven’t tried getting past these reasons, that is, if they have tried at all. For according to Deca Nazarian there are several options to get past mountain. You can climb it, go round it, dig under it, fly over it, blow it up and even ignore it. What she was trying to put across in simple terms is that there are several ways to kill a cat. Think of any barriers that may hinder your plans to budgetting as your mountain and figure out how you can get through them to reach your goal which is budgetting. Some common barriers that may hinder you from budgetting are;

1. Time

This can be regarded as the main factor that hinder budgetting plans. Many people will tell you that they can’t budget because they don’t have the time to do so.

SOLUTION: There is no where additional time will come from because a day will always have 24 hours and it will remain that way for eternity. Time is created. You need to avoid the ‘I don’t have time’ mentality and create time for budgeting. You can spare thirty minutes of your sleep time and do a budget. It is not a must that budgetting be a one day thing so you can at least create additional 30 minutes for a span of five days to budget. Just create time!

2. Confusion

In many cases, somebody will sit down and start doing a budget but say twenty minutes into the exercise he or she realises that it wasn’t and easy task like they thought. They come to realise it is a really demanding task that he or she can’t think straightly of what to put where and how much money to spend on what. This brings confusion and then frustration that they end up giving up on budgetting and say you know what, “I can do without this budget thing”

SOLUTION : To avoid confusion you need to first realise that budgetting is not an easy task. You first need to prepare yourself mentally, then focus all your attention on the exercise at hand. If you find it to be such an overwhelming task you can call somebody you trust for help and find a way to do it together or maybe turn to blog for advice and help.

3. Commitment

People will say they will budget at a particular time or day and end up not living up to their promise. The sole reason being that they were engaged at that time and hence could not do the budgetting.

SOLUTION : Find a day and time that you are sure you are not having any arrangements and make that day your budgetting day. And should anything come up say you know what, “I’m busy” and go on and do your budget. Unless that stuff that comes up is REALLY important is when you should consider scrapping your budgetting plan.

4. Discipline

Most of us always say ‘I will budget ‘ but end up not doing what they said they will do. Why? Because they lack the sole driving force that will make us sit down and do what we said we will do. DISCIPLINE is what we lack.

SOLUTION : Ensure you instill some dose of discipline to your behavior because only then will you end up doing what you intended to do.

5. Procrastination

I will do my budget on Monday then Monday reaches and you come up with an excuse and convince yourself I’ll do it on Wednesday for real. Wednesday comes and goes, Thursday, Friday the same and then you end up giving up on doing what you intended to do after all. That is what we call procrastinating. Unless you beat this behavior you should forget about ever sitting down and doing a budget.

SOLUTION : Do what you told yourself you will do. Be a man of your word.

6. Thinking it doesn’t matter

Because you can’t just get yourself to sit down and do a budget you end up telling yourself “after all this budgetting stuff does not matter” I’m sorry to say this but you are WRONG!!! In fact if you find yourself saying such things go get help. The reason I’m saying this is because budgetting is similar to tracking your money and knowing exactly where it goes. This is so much important to your financial success as a person.

SOLUTION : You need to learn about the benefits of budgetting. Read blog posts of how budgetting has helped a number of people realise their financial goals, talk to people who have made budgets themselves and ask them why they did so and read books to stump out such ignorance.

7. Anticipation of additional funds

My parents will send me some additional money before the month ends, I’m going to realise a salary increment this month, my student’s loan is going to be approved this week and all the other things that you tell yourself making you think that budgetting is not necessary after all. Or worse still, making you convince yourself that you will budget with the money you are expecting so the one you have budgetting is not necessary. You need to budget whether or not you are going to get additional cash or not. REMEMBER : Budgetting is done with the money you have and not with the money you are expecting.

SOLUTION : Avoid the mindset that because you are expecting additional cash at a particular time you are free to use the money you have now for whatever purpose without necessarily budgetting for it. This is some dangerous practice that will get you in a ditch someday so the best way to deal with this is to AVOID this practice.

REMEMBER : ONLY after you overcome barriers that hinder you from budgetting will you budget and only then will you realise financial success!

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