Why Is Budgeting So Boring? The Truth Behind Traditional Budgeting Methods

My Mother taught me how to balance a check book when I was 15. That's precisely the age I completely checked out (pun intended) when it came to tracking, managing and budgeting my money. To me, budgeting and talking about money was about as fun as sitting in church on a perfectly good Sunday. 

So, I never bothered with it. Fast forward 20 years and guess what? My financial life sucked. It was in complete disarray. I was buried under debt and stress, had no idea how much money I was making and definitely didn't know how much I was spending. The money anxiety and overwhelm was very real. When I finally worked up enough courage to run my numbers and realized that I was spending 99.5% of my income and had nothing to show for it (4 years in a row), I wanted to puke. 

That was my wake up call and so I got busy. I tried several of the most common budgeting softwares: Mint, Goodbudget, EveryDollar, and my personal favorite; YNAB (you need a budget). Each of these budgeting softwares were slick and simple for the most part but after a 30 day trial with each, I was no closer to creating a budget. Truth be told, they were boring, they stressed me out and the entire process felt super confining. Not a recipe for success in my world. So, I pulled out the big guns. My Mother had done some light bookkeeping in her day and I thought a little human accountability would do the trick so we planned to meet every Monday to "hold me accountable". It was not great to put it politely. haha. It was all so boring and tedious and now I felt like I was letting my Mother down as well as myself. So the shame piled up and the budgeting didn't get done. 

Budgeting – it's like broccoli. You know it's good for you, but it's also boring as heck. So, why is budgeting so boring? Well, let's dive in and uncover the truth behind traditional budgeting methods.

1. Lack of Flexibility: One-Size-Fits-All Budgets Don't Work for Everyone

Traditional budgets are like that aunt who insists on buying you the same sweater every year, even though it's not your style. One-size-fits-all budgets don't work for everyone, especially for people who have money coming in at irregular times and in irregular amounts. Gig workers, Self employed, artists, musicians , photographers, bar tenders and waiters. Most approaches to budgeting are based on receiving regular, consistent income and that lack of flexibility can make budgeting feel like a straight jacket.

2. Tedious Tracking: Constantly Monitoring Every Penny Can Be Exhausting

Tracking every penny you spend is like watching paint dry, but less exciting. It's tedious, time-consuming, and let's face it, not the most thrilling way to spend your time. The last thing I want to do with my time is stare at a spreadsheet and penny pinch. Life is too short to be nickel & dime-ing your way through it. Nobody likes a tight-wad but when you start tracking every cent, you become by default.  

3. Limited Room for Fun: Strict Budgets Can Be Restrictive and Limiting

Traditional budgets can be like that strict teacher who never lets you have recess. They limit your freedom and make you feel like you can't have any fun. The 1st things I noticed with the traditional approach to budgeting is that tell you to get rid of all "unnecessary" expenses. Things is, those are the expenses that make life fun! Traveling, partying, fancy dinners, I don't want to get rid of those do you? No wonder so many people avoid old school budgeting like the plague.

4. Time-Consuming: Creating and Maintaining a Budget Takes Effort and Time

Creating and maintaining a budget is like running a marathon. It takes effort, time, and a lot of discipline. You have to really want it and you have to be dedicated to it. Every once in a while I would get a "responsibility" kick and I would stick with it but then 2-4 days would pass and I was already on to other things. Let's be honest, if it's not easy and fun, it's not going to stick. 

So what is the answer?

I think you get the point. The traditional approach to budgeting is super boring, confining and simply not fun. I'd suggest an update but truthfully, why build on top of an already out-dated foundation. Stick with the old habits, get the same results. I had reached my breaking point and so rather than try to update the old boring way, I decided to burn it all to the ground and create something new and I had a wish list:

1. It needed to be easy & simple  (if it's not easy, It's not going to last for me)

2. There couldn't be any spreadsheets (fuck those things)

3. No number tracking (I want the confidence to be able to purchase things without having to track)

4. No getting rid of "unnecessary" expenses. (If I want to party, I want the money available to party)

5. No tedious, time consuming budgets (I don't know what i'll be doing later tonight let alone next week. To try to plan for that is laughable)

6. It needed to flow with the ups and downs of my life (one week I may receive a big check, then nothing for a month. I may want to visit friends in Italy next week and then family in California the following and I may have a large business expense at the same time. And in a year from now, maybe I'm all about camping and acquiring all the gear to make that happen. Whatever it is, I want my money to flow with my life)

7. It needed to work in the background of my life (If I have to spend a ton of time on this method, It's not going to last). 

8. And as a bonus, I wanted to to be fun! (because if you ain't having fun in life, what's the point?)

So I got to work and the result? I created The Big Split! Turns out that all of the things on my wish list were actually possible and as I enter my 6th year of implementing the Big Split into my life I'm happy to say that my entire experience with money has changed for the better! Am I a millionaire? No. And the best part about that is knowing that I don't have to be. The Big Split has shown me that you don't need a million dollars in your account to have plenty. It has allowed me to have all that I need, to be able to travel, have the things that make my life easier and more convenient and I don't have to spend all my time chasing money. 

While traditional budgeting methods can be boring and restrictive, that does not have to be your experience. You can take a look at your financial life, your thoughts and spending habits just like I did in order to identify the things that are working for you and the things that are not. You can even create a system and then test it out just like I did. If you are tired of not being able to keep track of your money and traditional budgeting is simply not working, take action and create something that does work for you! 

If you would like to learn more about The Big Split approach to budgeting and managing your money in a simple & fun way that does not require spreadsheets, number tracking, restriction and can even be fun, please check out the homepage at https://www.thebigsplitwithlucas.com and feel free to drop me a line if you have any questions!