The people who do not cringe at the phrase ‘let’s do a budget’ are few and far between, and more often than not they hold accounting degrees.
That particular ‘b’ word (budgeting) has the power to strike fear into the hearts of men and women alike for a number of reasons:
- It’s overwhelming – who has the time to build a spreadsheet with ALL their costs in it? And how on earth can we know what everything will cost in the future?
- It’s boring – nothing is more likely to send you into a catatonic state than sifting through credit card statements and that pile of crumpled-up receipts hiding in the bottom drawer. And try watching the announcements about the Federal budget – positively snore-worthy.
- It can be depressing – realising you spend $760 a year on take-away coffee is not likely to make you feel good.
All these pale in comparison to the One Unassailable Fear associated with budgeting:
If you set a budget,
you just might have to stick to it.
That’s why it’s called a budget – you set it then you don’t budge (I know. I’m hilarious).