To be truthful, tracking your spending is not fun or exciting. I have heard a wide range of excuses of why people don’t track their spending. Regardless of the excuse or reason, if you live paycheck to paycheck, are always in debt or have little or no savings then you need to begin tracking your spending. It is essential to making your spending plan work and achieving your long-term financial...

Today we will discuss cash flow. Before we do that we need to review your spending plan. Your spending plan has two main parts: income and expenses. We do break them down in the spending plan, but let’s keep it simple today. Cash flow can be positive or negative. Positive cash flow means that you have more income than expenses. This is a very good thing. Negative cash flow means that you have...

Up to this point, you should have been tracking all of your expenses and putting them into categories for your spending plan. In this post, we are going to break down your spending, look at your cash flow and spending ratio recommendations. The first part of your spending plan is your income. You need to start off with your gross income. This is all of your income without any deductions. Make...

A spending plan is often referred to as a budget. Even though most people think of cutting costs or penny pinching when they hear budget, it is a valuable tool that does not need to have a negative feeling for you. The spending plan is a system for how you spend your money. The spending plan should be viewed as a positive tool that helps you plan and achieve your long-term financial goals. It...