5 Unhealthy Myths About Budgets (And The Best Budget Template Ever Created)

I'm going to draw the line in the sand and probably hurt some feelings with this one. 

(Keep reading but download the Best Budget Template Ever Created while you're at it.)

If you don't have a budget that you review monthly, you don't really care about your money.

And if you don't care about your money, you don't really care about the direction of your life.

"But Stephen! Of course I care about the direction of my life. That doesn't mean anything."

Okay fake person yelling back at me. Riddle me this...

What would you say to someone eating pizza and candy while chugging soda and watching TV all day when they tell you they care about their health?

Sure, you might "care" like I care about the fact that east Asia is polluting the oceans at an alarming rate. But do I care enough to do anything about that? No. So how much do I really care?

I think you get my point. 

5 Unhealthy Myths About Budgeting

So let's tackle some of the most destructive myths about budgets that keep people from creating them. 

1. I don't have time to budget

Look at the screen analytics on your phone and try saying that again.

Everyone has time. But what you make a priority gets done.

In all seriousness, the most disorganized person ever can do a budget in the time it takes to binge watch a few episodes of their favorite show.

2. Making a budget is difficult and I hate math

This is only true if you struggle to do 3rd grade math. 

And if you do struggle with it then I have good news!

My budget template auto-calculates everything for you. It's so easy to use, a 6-year old could do it. I know this because my 6 year old did do it.

Okay, next excuse...I mean, myth.

3. Budgeting is boring

Only if YOU make it boring. I do my Epic Monthly Reviews while drinking whiskey and listening to my favorite music.

It takes barely 30 minutes (usually like 15 minutes since my personal systems are automated) on the 1st of every month to measure my progress.

I look forward to it every month!

4. A budget is restrictive and means I can't have fun

Yeah, if you listen to Dave Ramsey and go full "gazelle" mode.

But normal people just budget their fun and then they don't have guilt after they go and spend money on their planned activities or stuff they wanted to buy.

I just bought a $800 Pokemon card to satisfy my inner child and enjoy a hobby my son is getting into.

I also just booked a $700 weekend with the family to go out of town to the beach and a zoo.

All budgeted. All fun. No post-fun regret.

5. It's just not a good time for me to start one

If you were hemorraging blood from a knife wound, would you say its just not a good time to apply a bandage?

That's what you are doing with your cash. 

The best time to start anything significant is right now.

Bonus: I make enough money so I don't need a budget

Not only do the richest families in the world have a budget, they have professionals budgeting for them.

Sure, they've got a lot more zeroes to play with, but they still budget.

In fact, I worked with CEOs and CFOs of multi-billion dollar companies and they were constantly looking at their budgets. Why?

Because money that isn't budgeted, at best isn't working for you to its full capacity, and at worst, is being completely wasted. 

Gain Greater Than The Pain

It doesn't matter what I tell you or Dave Ramsey or anyone else.

If you don't see budgeting as a way to get what you want in life or to make your overall life satisfaction better for you, then you won't do it and even if you do, you won't stick to it.

Take some time to dream. What is it that you REALLY want.

In 5 years, if you could design your life, what would it look like?

Life is stressful enough. What would your daily mindset be like if you didn't have to worry about money?

When you find gain that's greater than the pain, you'll crush this and change your life for the better.