One of the most powerful tools in financial planning is the boring old household budget – especially on the expenses side.
While there are many reasons why people get into financial difficulty, one of the most common is overspending. And, before you can control your spending, you need to know what you are spending, and where it is going.
Also, your spending is the one thing over which you have the greatest control. You can’t control interest rates, or the stockmarket, or your future job security (and hence income). In this age of uncertainty, it makes sense to have a good handle on the things that you can control – such as spending.
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