Post by David Wright
11 Sep 2013
Thanks to all those people who gave me their valuable feedback last week regarding the question “Why is Today Such a Bad Day To Start Budgeting?”
I have been busy reading through all the responses and today I thought you might be interested in finding out what people had to say. I thought I knew all the reasons why people avoid doing their household budget and I guess there were no real surprises in what I received but it was a really great to get the background behind the reasons as well.
So, the 10 main reasons for not wanting to tackle your home budgeting was as follows (in no particular order):-
- Fear that a budget will take away your freedom
- Fear that doing a budget will reveal how bad things are and you would rather NOT know.
- Fear that you will have to give up things you like doing
- You’re just too busy – Lack of time
- You think budgeting is not possible because your income varies
- You think that budgeting requires ongoing and boring record keeping
- You just couldn’t be bothered – not in enough pain to do something about it even though you’re not happy.
- Too hard, like trying to give up smoking or drinking
- Fear of revealing your addictions and bad habits
- Relationship reasons – It’s just too hard to talk about money.
You will notice that all the reasons are related to or driven by negative emotions, primarily FEAR, which some people say is an acronym for False Evidence Appearing Real.
When I first started out on this journey I would tell everyone I met that I did household budgets for people. Invariably they would respond saying they should get me to do one for them as well but the moment I suggested making an appointment they would back away quickly, making excuses and saying there would be a better time AFTER some event or situation passed. They wanted the benefit but fear held them back.
I was amazed because the way I was doing a personal budget it was liberating. None of the reasons above were valid. Yes it may have revealed there was a problem, but invariably things got better once we knew what the problem looked like. Only then could we put a plan in place to fix what needed fixing.
Once we had crossed that barrier it led to positive outcomes and positive emotions. The fear transformed into HOPE (I’m trying to think of an acronym for hope. How about this… Halting Overwhelming Poverty Experiences!!!)
So the first step is to overcome fear and take stock of where you are. Let’s face it, not knowing a tsunami is coming might feel good until it hits but it would be a lot better outcome if you knew it was coming!
The first month in my Simple Wealth Steps program is dedicated to finding out where you are at for this very reason. You can’t fix something until you know what is actually wrong!
So now you know the reasons why people are afraid to take the plunge and start their personal budget I would like your help.
If you are someone who had one (or more) of the above reasons why you were avoiding doing your personal budget and you finally overcame your fear and started using my system, your story could be a big help to someone who is still struggling with their reason (which appears real to them right now).
Would you please send me your story and I will anonymously publish it in my next e-mail newsletter as a way of encouraging people to overcome that initial fear of taking that step.
I have the top 10 reasons why people avoid budgeting; I’m looking for the top 10 benefits of doing a budget.
E.g. One person wrote in and said “I really wanted to know exactly how much money was spare for spending without messing things up (and now I always know)”.
I’m looking forward to reading your story.
I have decided that since we are on the run up to Christmas, I want to see how many people I can rescue from the traditional January/ February credit card hang-over.
I’m really passionate about this. Just getting over that initial hurdle of getting started is crucial.
So, as a way of helping anyone who is at that point of making a decision to take action, for the month of September this year I am upgrading all Simply Budgets software orders to the Simply Budgets ‘Gold’ package which includes step by step detailed online videos taking you through the process of getting your budget all set up the way I would do it if I was doing it for you and I will include a complimentary 30 minute support phone or skype call just in case you need some extra help.
AND, if you are a previous customer who has been slack and you haven’t used what you paid for and you now are ready to take action,e-mail me requesting an ‘upgrade coupon’ and I will send you a special code and details on how to upgrade to this same offer at a discounted rate in recognition of the money you have already paid.
I’m looking forward to making a difference to as many people’s lives as possible.
Love and Money
Also, don’t forget my new Love and Money Long Week-end at Noosa in October this year for all those stressed out couples who struggle to talk about or take care of their finances and know their love life suffers because of the resulting financial stress this causes. It is going to be something really special… even if you do talk about your finances it would be worth coming for a check-up and a romantic recharge. Details are at https://www.simplybudgets.com.au/events/love-and-money-long-week-end
That’s all for this week.
Have a goody!