Is there a “right time” for budgeting?

5 ways to help you see why now is all you really need

I recently read an article on finding the perfect time to get in shape. I loved the post because I saw so many similarities in the way we approach budgeting.

Spoiler alert! There is no perfect time to start exercising or budgeting. That doesn’t stop us from making some pretty creative excuses to put off things we know are good for us. I hear this a lot from friends and family.

“I know, I know — I need a budget! I just need to find time to sit down and make it happen.”

Funny enough, many of the excuses — errrr reasons — we give for putting off budgeting are pretty similar to the ones we give for putting off exercise. We’re just waiting for that one magical moment to start. The “right time.”

For many, [the right time] is a great distraction and justification. It helps us avoid the real — and risky — work of doing.

For others, perfectionism and avoidance serve as strong armor against potential embarrassment, criticism, and failure…Unfortunately, it’s also what keeps us from growing, thriving, and being who we know we have the potential to be.

— Krista Scott Dixon

Krista so nails it! Our logic for not starting something like a new workout routine or new budget feels good at the time. Yet as the days, weeks and months pass it becomes clear we are not getting closer to our goals of financial freedom or physical fitness. Good news is most of the reasons we give for not tackling our greatest financial challenges can be met and overcome with a few simple shifts in the way we look at budgeting. When we change our mindset, we can better recognize “now” is all we really need.

1. It’s easier than you think
   Let’s start with the concept of budgeting itself. Somewhere along the way we’ve come to believe budgeting is hard and not fun. This is based in some reality but budgeting doesn’t have to be a long, painful process cutting away the things you love. It’s actually more about prioritizing the things you love and building some intentionality around spending the money you have available. That’s just one of the Four Simple Rules that have put us on track since budgeting with YNAB (You Need a Budget). It’s definitely more fun and easy this way!
2. Forget the perfect time, now is all you need
   Like any large undertaking, starting a budget is really about just starting! You can do that right now (or at least when you’re done with this article). It doesn’t have to be perfect or ceremonious. Start to break down the process into smaller chunks and you will see any progress is good progress. That could look like 20 minutes of research on tools or budgeting approaches you want to try. Or taking 10 minutes to sign up for an online software platform. Another day’s goal could be to connect 1–2 accounts or using 20–30 minutes to figure out your categories. You don’t have to do it all at once, just do something! You’ll start small and end big.
3. Resistance and challenges mean you’re on the right track
   Somewhere along the lines you will get confused or something won’t work as planned when you start budgeting. You may feel frustrated, a little lost, or even scared (“Am I doing this right?”) This is totally normal and actually a good sign you’re challenging yourself with something new. You are growing into your financial freedom. If you have questions ask customer service, look at the companies online help resources or Google the problem. I’ve seen a ton of good information on Reddit and Quora about budgeting software. If you still aren’t finding the answer, this is a good time to take a break. Give yourself some time to process, bounce ideas off others and return to it when you have fresh eyes.
4. See budgeting as a healthy habit
   Budgeting is like exercise for your bank accounts. It’s how we keep our finances in shape and make sure we are making healthy progress toward our money goals. Once you get a system in place with a few goals in mind you’ll see the upkeep of budgeting can be really simple. I spend about 15–20 minutes a week in our budgeting software YNAB (You Need a Budget) looking over our spending to make sure we are on track. That’s it. After I do that bit of upkeep I feel better because I know where our money is going. No stress or surprises. That feels good to me. Just a little intentional planning to keep us moving in the right direction.
5. Celebrate each small money success
   This is probably my favorite part of budgeting. Once you’ve done the work of setting up your budget and begin flowing into the process over the months, you will start to see results. It’s important to stop and celebrate the money milestone moments, no matter how small they may seem. Whether it’s that you have finally stopped living pay check to pay check, you’ve finally paid off a credit card, or you just spent less on groceries for the month — CELEBRATE! Whatever it is recognize your work and use those small wins as fuel for your bigger goals.