Time Consuming Or Complicated This one is a myth that people strongly believe in. Budgeting is time consuming and complicated is what they believe. But in reality, they aren't complicated. Try using certain software package that will guide you through the process and make your budget easy to update and track.And if you are creating your budget for the first time, it might take adjust 30 minute to plan out your expenses but once you've done that, subsequent months will take far less time. Every week keep a check on your budget and see your progress. Plus talk to your spouse and review your finances.