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6 Budgeting myths you may be falling for

Unfortunately, these myths can throw us off track.

We’ve all heard a bunch of budgeting myths from all kinds of people.


From “financial advisors” down to those we love, they mostly say the same stuff on budgeting and saving more cash: make your own coffee, cook food instead of ordering out, take the grueling commute to work, stick to a budget, yada yada yada.


Napaka-OA ng mga advice na ‘to, minsan nakakasakal because they deprive you of joy. Isn’t budgeting supposed to make our lives more, well, livable?


Marami ring allergic sa word na “budgeting” at “budget”, either because it’s restrictive, there’s math involved, or they just don’t have enough income to budget.



So today, we’re debunking some common budgeting myths

you may be falling for:



Myth 1: Budgeting limits your freedom

Okay, we get it — you want to live life to the fullest. But guess what? Budgeting doesn’t mean you can’t have fun. Keeping a budget is cool; you’re in control cause it’s YOU who decide where your hard-earned cash goes.


Myth 2: Budgeting is only for the privileged

Who said budgets are just for folks with disposable income? Budgeting is for everyone, and it’s a smart move no matter where you belong in the wage bracket. Budgeting is all about making your money work for you and you don’t need an accountant to create one.


Myth 3: Budgets are set in stone

Well, they will be if you create one that’s incredibly restrictive! Whatever happened to flexibility? Your budget should enable you to live life to the fullest; to enjoy each moment. Life’s unpredictable, and your budget should roll with the punches — just like you do.



Myth 4: Budgeting takes forever

Newsflash: there are apps for that! Budgeting can be a breeze when you’ve got a trusty app (like Lista) to help you track expenses and keep things in check.


Myth 5: Budgeting is all about sacrifice

Budgets aren’t fun-suckers. You can still have your morning coffee run or occasional

dine-outs, just within reason. Budgets are all about conscious choices, not giving up your favorite things.


Myth 6: Budgets equal instant success

As much as we love them, budgets don’t magically make you rich. It’s a tool, not a guarantee. However, budgeting is the first step to financial wellness, and when you combine it with saving, investing, and managing debts, the closer you’ll be to the life you’ll love.


So, there you have it — budget myths debunked and busted! Budgets help you live your best life while still securing your future. It’s about time we embrace them as our friendly guide to reaching our goals.


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