Why People Hate Budgeting — and 5 Ways to Make It Painless

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For some, “budget” is the worst b-word! 

While most of us know we should budget, studies show more than half of us simply don’t. But why?

Budgets are boring. At least, that’s their public image. Be honest: When you hear the word “budget,” I bet you’re picturing some number-cruncher with pages of spreadsheets and bad hair.

Budgets are restrictive. That’s what many folks think. If you make a budget, it’s just going to be a reminder that you shouldn’t spend so much money, especially on all the things that make your life enjoyable.

In reality, budgets don’t need to be either of those things. They’re merely a personal finance tool to help you get a handle on where your money is going — and where it needs to go. Here are a few ways to make it painless (or, at least, as painless as possible).

1. Use a mobile app

There are a ton of great budgeting apps out there that can make organizing your finances remarkably easy. Many of them even connect to your credit cards and bank accounts so you can import your transactions right into the app.

The best app for you will depend a lot on which budgeting style you prefer. You can try a few different apps to find one that best meshes with your lifestyle.

2. Automate (almost) everything

If there’s one thing infomercials have taught us, it’s that we really like to “set it and forget it.” So why not apply that to budgeting?

Most checking accounts will let you set up automatic transfers. So, get a few different savings accounts, one each for your different expenses (e.g., one for bills, one for groceries, etc.). Then, set up automatic transfers so that each paycheck is automatically split into the different accounts.

With this method, your budgeting basically takes care of itself. You can make necessary payments from the dedicated accounts, and what remains can be your fun money.

Pro tip: Make sure you choose a high-yield savings account for your longer-term savings goals, like a house down payment or emergency fund. This will ensure you’re getting the best return on your savings.

3. Gamify it

One of the best ways to combat the idea that “budgeting is boring” is to make it, well, less boring. And for some folks, the best way to do that is to gamify it.

Set up a goal-reward system. For instance, every time you sit down and go through your budget, reward yourself with an hour of trashy TV. Or, maybe every time you hit a savings goal, you treat yourself to a dinner out.

We’re all motivated by different things. So find something that will motivate you to keep going, then decide what tasks you’ll need to complete to earn it.

4. Pare it back a bit

A useful budget doesn’t have to be about having a line item for every latte. Instead, you could simplify your budget down to just the basics — or even just one or two things.

For example, one popular type of “anti-budget” is to simply set a savings goal and automate the transfer. Once you have that coming out of your paycheck every two weeks, the rest of the money gets spent however it needs to be.

Of course, it doesn’t need to be that simple, either. Maybe you just need a budget with a few items — bills, housing, savings — and the rest can be dictated by whatever’s leftover. It’s really up to you.

5. Change your perspective

You may not actually hate the idea of budgeting, so much as you hate “budgeting.” In other words, folks can have a lot of negative associations with the word “budget,” such that the word itself can be a turn-off.

So don’t call it that. Give it another name, something empowering that will encourage or inspire you. Here are a few alternatives that I particularly like:

A Financial Plan for World DominationMy Guide to Kicking Poverty’s ButtHow I Will Get Rich and Die HappyStep-by-Step Plan for Getting a SupercarA Guide to Get Me to Europe

The whole idea is to remove the stigma from budgets. Because they’re not about boring spreadsheets or restrictions. They’re about making the most of your money.

A little of this, a little of that

For many folks, the best strategy may be a combination of approaches. Perhaps you have a barebones budget for just the major things. Set up a separate account where that money can live, then set up automatic transfers so the money goes there without you needing to do a thing. Then, the money that remains can go to whatever you wish.

In the end, there’s no single budget method that’s going to work for everyone. But avoiding any type of budgeting because one method isn’t appealing isn’t the way to go, either. Give different approaches a try. You may stumble across something that changes your financial life for the better.

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