Why Budgets Fail? (Free Budgeting Template Included)

I’ve read a number of articles and have spoken with a number of people about the subject of budgeting. For some, budgeting comes naturally and is something they do every month. For most, budgeting is a very mundane task that they do for a month or two and say, screw this, budgeting can kiss my @ss. You also have the group that budgets every month but still want it to kiss their @ss! That’s where I fall. To me, budgeting is simple, but I am also the person that is way too excited to jump into Excel and create a spreadsheet. Weird, I know, but many of you reading this are financially savvy and probably like spreadsheets just as much! Don’t lie! With the love comes the hate. I hate budgeting because of the time commitment and the restrictiveness. Not only do you have to create the budget, but you also have to review it throughout the month to make sure you are on track, which can be time consuming.

One article I recently read said that only 32% of Americans keep a monthly budget. The other 68%, well, you know what they had to say. The same article said that those Americans that are keeping a monthly budget will be more financially prepared for the future, and I couldn’t agree more. The motto at Shut Up and Budget is “Take CONTROL of your money, don’t let it CONTROL you.” That 32% that budget are taking control, while the others are being controlled. To me, the question is why do 68% of Americans not budget? I narrow it down to two things:

  1. They don’t have the proper budgeting tools available
  2. They don’t review their actual spending against their budget throughout the month

When you don’t have the tools to budget and you don’t regularly track your budget, you will fail at budgeting. Let’s see if we can do something about that. I know, creating a budgeting spreadsheet in Excel or any other program can be a hassle, especially if you aren’t very efficient in the program. Don’t worry, I’m not going to ask you to do that. What’s worse? Using another spreadsheet to track your spending against your budget throughout the month, which I’m also not going to ask you to do.

What am I going to do, you ask? I’m going to give you a budgeting spreadsheet template that you can use to create a budget! But wait, there’s more! We’re going to throw in a free ShamWow too… No, that’s a lie, but I feel like you got a little excited. I am, however, going to include in that spreadsheet another section that allows you to track your spending so that you can review actual versus budgeted activity.

You can download our budgeting spreadsheet here. Shut Up & Budget – Budget Template v2.0

My goal is to help those of you that don’t feel like you have the proper budgeting tools available, thus leading to budgeting success. I’ve seen too many people let their money control them, only to wonder where it all went at the end of the month. I’ve been there myself. I also want to help you keep yourself accountable. That’s why I’ve added the section that allows you to track your actual spending. If you’re creating a monthly budget, and monitoring your spending against it, you’re more likely to keep budgeting because you’ll see what you are spending. You’ll also be in CONTROL of your money, rather than being controlled by your money.

So, download our budgeting spreadsheet and get started. Challenge yourself to go one entire month where you create a budget and review it with your actual spending at the end of the month (guess what, a new month starts in a couple of days…). You’ll be more likely to keep going. Post a comment below or shoot me an e-mail if you need any help!

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Jason @ShutUpAndBudget

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