4 Budgeting Myths We Wish Would Go Away

The word budget gets a bad rap. It can be synonymous for cheap, boring and an all-around killjoy. But that couldn’t be further from the truth!

Your budget is a super-efficient vehicle for your money that puts you behind the wheel of your decisions. And it’s one of the smartest things you can do with 10 minutes!

In the spirit of clearing the air, here are four budgeting myths we wish would just go away already:

1. A budget holds you back. In fact, a budget propels you forward. Maybe you were once stuck spending half your paycheck on takeout food. But now you have an emergency fund and are saving for retirement! So the next time you splurge on pad thai, you can do it completely guilt-free. Well, except for the calories . . .

2. A budget is a ball and chain. You’re in control of your budget, not the other way around. If there’s something you want to do, budget for it! A budget gives you the freedom to do whatever you want, within reason. Ready for a vacation? Need a massage? Itching for a new pair of summer shoes? Simply work it into the budget and reduce another spending category to even things out. #MyBudgetSaidICould

3. A budget is the end-all, be-all. Your budget isn’t a rock. It’s a changeable, flexible tool. Just because you could only spend $50 on entertainment last month, doesn't mean you can’t turn around and budget $200 next month. Your budget will ebb and flow along with your lifestyle.

4. A budget takes forever. Fun fact: It takes longer to brush your teeth in a month than it does to make an EveryDollar budget. That’s because all you have to do is plug in your income, expenses and savings goals. We do the math for you. Ten minutes now equals better money management for 30-plus days! That’s some phenomenal ROI.

See? A budget is actually fun and empowering! And it doesn't have to control your life. Put these four budgeting myths to bed and wake up to a budget that works.

Create your free EveryDollar budget in less than 10 minutes.