Comments on: 5 Common budgeting myths

By: Frank

Frank — Thu, 06 Nov 2008 06:29:37 +0000

I agree with all of these points. I think the only thing I’d have said differently (though I think I understand why you said it) is that it’s considered an essential part of a business. There is a entire division in all companies devoted to making sure the company stays “in the black” and making recommendations to make that happen, either to increase the income or decrease the expenses. You say “even…corporations that are highly profitable…” I’d say that a budget is what allows them to be profitable. They know what they can spend on marketing and research and staff salaries.

By: Make Friends, Earn Money

Make Friends, Earn Money — Mon, 03 Nov 2008 19:27:08 +0000

Some excellent points you make. Budgeting can be time consuming the first time you do it, but i find it takes around 30 minutes per month to complete our househol budget, which is in my opinion a good investment.

By: The Debt Helper

The Debt Helper — Mon, 03 Nov 2008 19:19:35 +0000

Budgeting is for poor people – I don’t need a budget – This is a classic myth and I’m glad you mentioned it in your post. I think that this is about cultural aspirations those on higher incomes often feel that they will some how be judged if they admit to having a budget, but that is just madness. Having a budget actually creates financial freedom in my opinion and releases people from the stress of continually going overdrawn and worrying about whether they have enough in their account to meet another bill.

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Weekly Round Up: Carnival Preparation — Green Panda Treehouse — Mon, 27 Oct 2008 11:39:57 +0000

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By: clare

clare — Sun, 26 Oct 2008 09:24:06 +0000

Budgeting is essential and really does take away a lot of headaches. we have a budget for our household expenditure and then we also save separately for Christmas and holidays. We have everything set up by standing order so that on pay day all of the money comes out of our account – what’s left we can spend on what we like that month.

By: ChristianPF

ChristianPF — Fri, 24 Oct 2008 14:56:37 +0000

Gibble,
I completely agree about what you said about it reducing stress. We have experienced the exact same thing. Paying bills is ALMOST fun and when unplanned expenses come up we often have money budgeted for them. It really does make life a lot easier…

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Link Love - Frugal Tips « Saving Money Ideas — Thu, 23 Oct 2008 20:29:22 +0000

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By: Bill R.

Bill R. — Thu, 23 Oct 2008 18:00:45 +0000

I always encounter customers of our bank that believe these (plus a few more). I think the biggest barrier is just getting started.

I think the biggest problem is that “ignorance is bliss” and many are reluctant to open up what they consider a Pandora’s Box. Next “it’s a lot of work”(/time consuming). I think the other four point factor in afterward…

Thanks for a good post.

By: Eugene

Eugene — Wed, 22 Oct 2008 06:56:38 +0000

I am seaching for some idea to write in my blog… somehow come to your blog. best of luck. Eugene

By: BJ

BJ — Tue, 21 Oct 2008 22:35:40 +0000

I used everyone of those excuses before I finally broke down and said “enough.” My only regret now is that I didn’t start to budget sooner.