Do as I say, not as I do. Do you ever fall into that trap? New research from Debt.com suggests that you might have that attitude when it comes to budgets.
Debt.com recently surveyed the budgeting habits and attitudes of Americans and found a wide discrepancy in following through on budgeting beliefs. A huge majority (93%) of respondents agreed that everyone needs a budget, with 97% of women and 90% of men agreeing – yet only two-thirds of respondents actually do maintain a budget.
The remaining 7% agreed that some people need to budget – for example, if you have limited income, are a big spender, or have a lot of debt – but they didn’t feel that budgets should be universal.
Why do budgeters budget? Most want to do a better job managing their money (34%), or budget because they’ve always done so (25%). Another 13% budget out of necessity to get out of debt. Other budgeting reasons centered on saving for wealth building and/or retirement, or budgeting as …