Planning to save money

One of the key pieces of information that many money gurus fail to mention is proper planning to get out of debt or saving for something. They give vague hints like "pay yourself first" or "put an XX amount in your savings every week." Where they fail is mentioning how to afford that money.

There is no secret or short cut to financial independence, it is simply the fact that you have to create a budget. How can you see where all your hard earned money is going unless you create a budget?

Many money management programs will allow you to classify your bills and everyday spending habits so you can run a report and see where most of your money goes. I thought at one time most of our money was going to food and gasoline but found out other expenses were right up there. One was the monthly medical expenses our family had.

At the same time you can also plan how to pay off credit cards or other installment plans. Remember that with proper planning first you can tackle that debt and save a nice healthy nest egg for what ever you really want.

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