Did you know that the majority of people don't maintain a household budget? Even I, the master of planning, only made serious budgeting efforts when we were looking to buy (and move to) a bigger house years ago. Back then I really felt the need to keep track of our monthly expenses - we had a new baby (my son was six months old when we finally moved), we had a new car and I needed to make sure we had enough money every month to pay our mortgage on top of everything else.
After that, though, I slacked again. Which isn't really logical, or even healthy. Everyone should keep track of how much they spend, no matter how much they earn. We need to be aware of the essential expenses and of those costs that can be reduced or eliminated in case of need.
Unfortunately, according to recent data collected by Credit.com, only two out of five Americans use a budget to maintain control of their finances, though nearly half of those surveyed are worried about paying for the basic necessities (and honestly, Europeans - me included - should not be significantly different).
The results of the survey reveal a surprisingly wide variety of responses (aka - excuses) to why people choose not to budget, even if they know they should. The main reasons were as follows:
I don’t think I need one - 27%
I never stick to one - 24%
I don’t feel like making one - 20%
I don’t like to feel restricted - 11%
I don’t know how - 11%
I’m afraid to check my bank account - 7%
Well, everyone should use a budget. It doesn't necessarily mean you need to cut back on your spending - good for you if you don't - but believe me, knowledge is your best friend. And if you don't know how to create a budget or have difficulty sticking to one, Credit.com is making available some amazing budgeting printables just to help you out.
There are sheets to keep track of your expenses, cute printable stickers to help you out, monthly budget sheets and even printable envelopes to help you save for specific events.
Creating a budget should not be difficult or scary, and it's essential to not only paying everyday expenses, but for saving for the future as well. Take a look at the adorable budgeting printables (download here) that will help you get started on your savings journey!
Happy Wednesday, and happy budgeting!
This post was written in partnership with Credit.com. Images and printables were supplied by Credit.com and as such are not owned by me.
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