The dreaded B word. Budgeting. It is not the scariest word in the English language but for some people it is as foreign as the word Kummerspeck. (In case you were wondering Kummerspeck is German for excess weight due to emotional eating. You`re welcome) All Kummerspeck aside here are 3 signs that you might need budgeting help!
3 Signs You Might Need Budgeting Help
Every time you try to budget you blow it.
The mistake most people make when they budget it is they jump in with both feet. They decide they can make it with little or no money for eating out. They restrict their spending too quickly. Think of it this way, if you decided you were going to go on a diet and never eat doughnuts again what is the first thing you want to eat?
A DOUGHNUT OF COURSE!
So if you jump into a budget with huge restrictions you`re setting yourself up for failure! The point isn`t to never have a doughnut again, it is to eat them in moderation! A healthy diet is balance, so it a healthy budget. Start asking why you want the doughnut, is it Kummerspeck? The same could be said for your budget, you may have some emotional patterns and behaviours that need to be addressed first! Check this list of 5 reasons you`re budget isn`t working to see if you fit this list too!
You have no idea where your money goes.
Before I even start working with a client in my Personal Finance 101 course or one on one I ask them to do a guesstimate. Guess how much you spend on each category a month. It never fails they are off by a couple hundred to a couple thousand dollars each month! If you don`t really know where your money is going you might need some budgeting help.
You get overwhelmed and give up.
The biggest problem I see with people is they get overwhelmed and shut down when it comes to finances. Money isn`t hard, it can be easy! It is about finding something that works for you. If you don`t like the numbers try using a budgeting tool. You can try things like YNAB, Mint or even Gail Vaz Oxlade`s Online calculator. Automatic information can really help make your money less complicated. There is no one perfect budget for everyone, it is personal and specific to your needs!
Still don`t know where to start?
Check out the personal coaching options available to you.
Do you fit one of the 3 signs you might need budgeting help? If any one of these three signs hit home for you it might be time to ask for help. Contact me for your free consultation to see if Money Coaching is right for you.