Budget time: Something you love to hate

I don't know anyone who enjoys living on a budget. I do know some that believe this necessary evil is what helped them get out of debt and is keeping them debt free. Yes, putting yourself on a budget does sound like a grim thing to do, but if you want to get a handle on your spending it's an absolute necessity.

In the post, "Finding the cash to pay down debt," I talk about the importance of keeping a spending journal for the month and how you can use that exercise to find the extra cash you need to pay down debt. After you get that debt pay-down started, you can solidify your decision to get your finances under control by developing a budget based on what you find in the analysis of your spending. List all the 1s and 2s. They will become the core of your budget. Decide which 3s you want to leave in as part of spending.