Six Obstacles to the Perfect Budget

Overcoming Six Obstacles to the Perfect Budget!

One of the top two New Year’s Resolutions is to get personal finances in order—to get out of debt or set up a budget.Video Icon

But too often this resolution is made, and then quickly abandoned.

We’ve heard it, we’ve seen it, and we’ve helped many families to overcome it.

Any effort you make to manage your money will immediately start producing positive dividends.

We’ve created a four-part series that covers the benefits and “How To’s” of setting up a realistic, workable and maintainable household budget.

The Four Different Blogs are Listed Here

  1. Six obstacles to the perfect budget
  2. How to make the Best Budgets for Savvy Spending
  3. The Amazing Key to the Most Powerful Household Budget Ever!
  4. How to Build Confidence with a Written Budget


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In this 6 minute video, Steve & Annette discuss the 6 obstacles to creating a working budget.
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Here are Six Obstacles to Creating A Perfect Budget

We understand that there are many misconceptions about budgeting, and several mental roadblocks to overcome. Here are six of the more common obstacles to budgeting that we’ve heard:

Obstacle 1: “We earn so much we don’t need to bother with a Budget!”

We say: High-income earners who employ a money management system do much more with their money. They waste less, give more and achieve greater goals than those who simply shoot from the hip.

Obstacle 2: “We just don’t make enough money to budget!”

We say: Even the little you have can be stretched so much further than you ever thought. We know, we’ve lived on much less than the national average and accomplished much more.

Obstacle 3: “Our income is so erratic that budgeting is impossible!”

We say: Budgeting is the perfect tool to smooth out the peaks and valleys of your income. We’ve lived on commission and have managed huge swings in monthly income.

Obstacle 4: “I don’t need to write it down, I’ve got it all in my head.”

We Say: A written plan takes spending out of the ethereal — “well, I think I can afford this”— and puts it down in black and white — “I know I’ve got the money saved for this.” Numbers don’t lie.

Obstacle 5: “Oh, we gave budgeting a try, it was too restrictive and it just didn’t work for us.”

We say: Rather than being restrictive, a written and regularly maintained budget will provide you with financial relief, confidence, security, and freedom.

Obstacle 6: “My spouse and I don’t agree on anything, we couldn’t possibly work together on a household budget.”

We say: A written budget, worked on together, is the very thing that could help you move forward as a team toward positive financial goals. Rather than arguing about money or the lack of it, you’ll be allowing the budget numbers to reveal if you have enough or need to wait.

Overcoming these six obstacles won’t necessarily be easy. If we could transfer to you the attitude of hope and financial confidence that we have after so many years of practicing this habit of budgeting, you would hurdle over these obstacles and never look back. A budget creates freedom and hope.

Setting up a budget is something that will take some time, but once it is set up, the maintenance needed to keep it up to date is minimal. We spend about 4 hours each month “doing our budget.” That’s 2 hours, two times each month. Investing that time lets us know exactly what we have to spend, and what we need to save for. It gives us financial confidence and direction.

What is the Magic Formula to Household Budgeting Success?

In numerous interviews, reporters have asked how we’ve accomplished so much while spending so little. They’re looking for some sort of magic formula.

Well, unfortunately, there is no magic.

What we’ve done is a result of committing to a system. Because we’ve employed a budgeting system since day one of our marriage, we’ve had years to practice and fine-tune the management of our living expenses.

And even though our income has fluctuated greatly over the years (over 33 years it averages around $40,000), we have limited our monthly expenses to establish a lean, yet comfortable lifestyle.

During the plentiful earning years, rather than raise our standard of living, we were able to pay off mortgage debt, invest in retirement savings and put aside an emergency fund.

Our budgeting system has enabled us to reach our financial goals and still have lots of fun.

While there may be obstacles to creating the perfect budget, in the end, once it is created, your budget will help you sail over financial obstacles for many years to come.

If you want to learn more about the budgeting system we created (and thousands of others use also) please visit this info page.

Have you run into an obstacle to budgeting that we didn’t list? Let us know in the comment section below and we’ll respond to your comment.

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