I love budgets though you could probably guess that if you read this blog for any amount of time. But I know that not everyone loves budgets as much as I do. In fact, there are lots of people who hate budgets and budgeting.
Now I try to convince people that budgets are good. And they are good. But they still require work. Which sometimes hold people back when it comes to budgeting.
Today you are going to lose your excuse that budgets are too hard because I’m showing you an easier way to budget.
A normal budget involves different things. You would first have to set up your budget in whatever system you are using. Set up your budget categories in there. Actually, budget your money and then maintain it.
Maintaining a budget is one of the most important things you can do for your budget. And without maintenance, your budget will fall apart. It also one of the biggest time sucks when it comes to budgeting.
Getting rid of budget maintenance will save you a lot of time. But your budget would be ruined if you didn’t maintain it.
Instead of trying to find tasks we can stop doing let’s strip down a budget to its bare bones.
When you really think about budgets are you making a plan for your money.
In a normal budget, we plan where our money is going by putting it into different budget categories. And then we track where the money is going out to make sure we are following through on the plan.
With a lazy budget, we are going to keep things simple.
Instead of budgeting the normal way we are going to budget the lazy way by paying ourselves first.
So when you get your paycheck you are going to pay yourself first by putting money into your savings towards your goals. And then spending the remainder of the money.
Basically, instead of making a budget and budget categories we split up the money when we get paid. You could make things even easier and set up automatic transfer on payday.
Doing things will give you some of the budget benefits such as:
- it will help you reach your goals
- it gives you the freedom to spend
- you are making intentional choices about spending vs saving
- it can help you pay off debt
There are of course some befits to budgeting you can’t get without a true budget. But if you can’t commit to a budget this is a great way to go.
You still are saving. Not spending more then you make. Making decisions about how much to save. You are still managing your money.
Money management doesn’t have to hard. And it not only about hitting your goals. They’re important but it better to make lifestyle changes you can stick to long term.
So try the lazy way of budgeting today. It can produce great results.
What do you think should people budget the lazy way? Or is it best to stick to the normal way of budgeting?
P.S. Looking for other quick ways to manage your money? Check out this post on 10 things you can do to improve your finances today.
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