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Does Budgeting Really Work? - Family - Nairaland

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Does Budgeting Really Work? by opad(m): 7:36am On Apr 04, 2013
Budgeting has said to be a planned allocation of available funds, which is cool, but isn't part of our culture here in Nigeria. I've noticed, the more you earn the more you spend. Even if one starts keeping record of expense, inflows and outflows of cash, it gets tiring and boring.
Budgeting can be like going on a diet—you start with good intentions, but after a few weeks or months you drift away from your plan.
So I'd like to ask. How do you maintain your budget? Do you overshoot sometimes and how do you feel when you overshoot? and how do you keep track of weekly and monthly budgets?
Re: Does Budgeting Really Work? by SLIDEwaxie(m): 8:23am On Apr 04, 2013
Budget will only work if u're disciplined and determined.
There's no way u can have an accurate budgetary. all u need to do is budget this month, and note things u ommitted from them. U do ds for 3months and u might succeed in avin most of d things u'll need.
Then set up an amount for miscellaneous.
Ant stick to the plan.
Re: Does Budgeting Really Work? by slimyem: 9:05am On Apr 04, 2013
Budgeting is a very difficult thing for me.It makes me feel like i'm suffering.Not being able to buy what I like or desire because i'm on a budget?Hell no!
I've tried it before and i didn't enjoy it.Too much headache,too much calculation.
All i do is try to be prudent as much as I can and try not to indulge myself unecessarily.Whatever remains at the end of the month is my savings.Maybe,I'll adopt budgeting when I have more responsibilities.undecided
Re: Does Budgeting Really Work? by opad(m): 9:37am On Apr 04, 2013
SLIDE waxie: Budget will only work if u're disciplined and determined.
There's no way u can have an accurate budgetary. all u need to do is budget this month, and note things u ommitted from them. U do ds for 3months and u might succeed in avin most of d things u'll need.
Then set up an amount for miscellaneous.
Ant stick to the plan.
Thanks for the input, but tracking the omitted expenses could be overwhelming and tedious, and sometimes not traceable cos somethings for example are bought on impulse and might be difficult to track.
Re: Does Budgeting Really Work? by opad(m): 9:44am On Apr 04, 2013
slimyem: Budgeting is a very difficult thing for me.It makes me feel like i'm suffering.Not being able to buy what I like or desire because i'm on a budget?Hell no!
I've tried it before and i didn't enjoy it.Too much headache,too much calculation.
All i do is try to be prudent as much as I can and try not to indulge myself unecessarily.Whatever remains at the end of the month is my savings.Maybe,I'll adopt budgeting when I have more responsibilities.undecided
Lol...bro, thats funny. Sometimes i feel I'm being punished for just wanting to be prudent, thinking about it makes one feels like a burden, its tiring and hard to keep in mind making one prone to making errors because of inaccuracy.
Re: Does Budgeting Really Work? by hunkyjohn(m): 5:57pm On Apr 04, 2013
It is difficult but you will be forced to do it if you have a serious project you are working on e.g saving for masters or building a house.
Re: Does Budgeting Really Work? by baby124: 6:07pm On Apr 04, 2013
It works, with discipline though. wink

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