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A few years ago money was pretty tight. I monitored every single dollar that came in and out of my bank account and got a high from the sense of control I had over my money. I felt like I was in charge, dominating my personal finances, and for about a year this system worked well for me.<\/p>\n
Then after a while I started losing steam. My energy was placed elsewhere and accounting for every single penny<\/strong><\/a> I came into contact with was one of the last things I wanted to be doing.<\/p>\n Instead of this system working for me I started to resent it.<\/p>\n My story isn\u2019t uncommon. As human beings we have a limited number of willpower and energy. If you\u2019re one of the millions of people who strict budgeting doesn\u2019t work for you\u2019re not alone. Here\u2019s why and what you can do about it.<\/p>\n For the vast majority of the population strict budgeting just doesn\u2019t work. There are some easy to explain reasons for this, like the fact that expenses fluctuate and can be hard to plan for, that budgeting is boring and can be time intensive, just to name a few.<\/p>\n But beyond this there are also psychological reasons strict budgeting isn\u2019t working for you. Like these:<\/p>\n It\u2019s a scientific fact that as human beings we\u2019re attracted to the things that we can\u2019t have. In fact, restricting can often lead to obsessive behavior which then leads to overindulgence. (Like when you tell yourself you can\u2019t have a cookie but then lose willpower and eat the WHOLE bag of cookies<\/a> rather than just the one or two you had planned.)<\/p>\n Money can work like that too.<\/p>\n One study showed that self-imposed price restraints actually cause a person to SPEND MORE MONEY! (Read the summary of the study here<\/a>.)<\/p>\n Willpower is highly overrated. This is because the people you think are achieving their goals through sheer willpower and determination aren\u2019t \u2013 instead they have developed systems and habits that help them reach their goals.<\/p>\n In a 2011 Stress in America Survey<\/a> over a quarter of participants said that lack of willpower was the number one reason they weren\u2019t achieving their goals. And the good (and bad news) is that they might be right.<\/p>\nWhy Strict Budgeting Doesn\u2019t Work<\/h2>\n
Restriction Leads to Overindulgence (Think Crash Dieting)<\/h3>\n
You Have a Limited Number of Willpower<\/h3>\n