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In today’s challenging economy, now is a good time to take a fresh look at your finances. Here are some simple steps you can take:
1) For one month, track all your expenses in writing. Make a column for money you earn and a column for money you spend. Don’t leave out the tiniest detail!
2) Compare your earned column to your spent column. Is your spent column higher, equal to, or lower than your earned column?
3) Now you are ready to set some goals. Pick an area where you are spending too much money and find ways to cut costs.
A well-organized money plan and a commitment to stick to it will keep you in control of your finances – so your finances don’t control you.