Hate Budgeting? These Simple Tricks Will Make It Better!
Photo by Mediamodifier on Unsplash
This post contains Affiliate Links, which means at no extra cost to you, I make a commission if you purchase through these links. For additional information, see my Disclosure & Disclaimer Page.
I have a confession. I am an established Finance Writer, and I hate budgeting. It’s time-consuming, it’s frustrating, and let’s face it, it’s kind of like dieting. Who wants to track every calorie or cent anyway, right?
Unfortunately, budgeting is essential if you want to get on track with your finances. A budget tracks your income and expenses and makes sure you are on track for any financial goals you have. The great news is you can lessen the burden of budgeting with these five tips!
5 Tips to Help if You Hate Budgeting!
Don’t Call It a Budget
People tend to think of a restrictive lifestyle when they hear the word budget. It doesn’t sound sexy, especially to those that don’t want to cut expenses and face their finances.
So, it’s time to flip the script and create a new term for your “budget.” It needs to be something that excites you, like “My Monthly Millionaire Plan” or “Financial Freedom Plan,” you get the gist. Renaming it will reframe your mindset and make it a positive thing and not seem like just another chore on your to-do list.
2. Find Ways to Make It Fun
Finding ways to make it fun can help you not hate budgeting so much. For instance, put on some good music, pour yourself a drink, and start number-crunching. (Not too many drinks during the budgeting process though. 😆)
Or you can make it a date night with your spouse. You could make a fondue platter, light some candles, and enjoy each other's company while working on your “Monthly Millionaire Plan.” Sticking to something is always easier if you find ways to make it fun.
3. Simplify Your Finances
Having tons of bills to pay or various due dates can make budgeting even more difficult. You can make it less frustrating by simplifying your finances. Here are a couple of ways you can do that:
Automate Your Finances
One of the easiest ways to do this is to set up automatic payments and savings deposits. This way, you are never late paying your bills, and you are always stashing money away because it is set up automatically.
You can contact your providers to set up automatic payments. If you have direct deposit, check with your employer and see if you can set a certain percentage or amount to be deposited into your savings every time you get paid.
You can also set up automatic transfers with your bank. For example, you can have $50 transferred from your checking to your savings on a reoccurring basis.
Consolidate Your Debt
Another way you can simplify your finances is by consolidating debt into one low monthly payment. You should weigh the pros and cons of debt consolidation beforehand, but it may be a good option for you. However, make sure you don’t consolidate into a more expensive interest rate. Otherwise, you will spend more money than necessary.
The best thing to do is to get out of debt completely, but consolidating debt is one way you can simplify your finances faster until you can pay it off.
Use a Budgeting Tracker or App
A budget tracker sheet or app can help you keep your finances in order and take the guesswork out of it. For those that still love using a pen and paper, grab the “FREE Ultimate Planner Bundle” below that includes a weekly budgeting sheet, savings tracker, and bill tracker.
If you find that doing everything digitally is easier, you should check out a budgeting app like Mint. You can see all your bank accounts, investments, credit cards, and bills in one place. Plus, you can sign up for free!
4. Pick a Budgeting Method that’s Easy for You
If you’ve tried budgeting and failed, then maybe you weren’t using the best budget method for you. Budgets are not a one size fits all. Everyone has a different financial situation and schedule, so it’s vital you choose a budget that doesn’t overwhelm you. Here are a couple of easy budgeting methods to try:
The 80/20 Budget
One of the simplest budget methods to try is the 80/20 budget. This is when you save 20% of your income and use the remaining 80% for your needs and wants.
Rather than having several percentages or categories, it simplifies it and helps you save money. It is a simplified version of the 50/30/20 budget. It’s great for anyone that doesn’t like a complicated budget.
Pay Yourself First Method
Another easy budget to follow is the “Pay Yourself First” method. This is when you “pay yourself,” aka save a certain percentage, then use the rest for bills and things you want. So, if you wanted to save 10% of your paycheck, you would put that into savings first before paying anything else.
Give one of these a try and see if it helps you not hate budgeting so much. The key is to find a budgeting method you don’t dread. If one doesn’t work, don’t give up. Just try a different one until one sticks.
5. Reward Yourself for Sticking to Your Budget
Research suggests frequently rewarding yourself can be an effective motivation strategy. It takes self-discipline to budget regularly. So you should find ways to reward yourself for sticking with it.
You don’t have to spend much money on treating yourself, either. You could enjoy a cozy evening doing something fun. Or you could treat yourself to your favorite dessert.
Rewarding yourself will motivate you to continue budgeting every month.
These Tips Will Help You Not Hate Budgeting Anymore!
Budgeting is the key to financial success because it helps you keep track of what you are doing with your hard-earned money. Remember to find a method that is simple for you and to keep it fun. These tips can make budgeting much easier, which will motivate you to stick with it and reach your financial goals!