That dreaded word.
Much of the American population does not have a budget. Budgeting is not fun but something that I beleive is extremely important. When you have a budget you spend money on the things you truly need and want. You spend money consciously and truly where you want your money to go.
Do you often wonder where all your money goes?
Having a budget and tracking where your money goes can be very beneficial to achieving your financial goals. We oten do not realize how all of the little things add up. A coffee here and a dinner there all add up and take away from money you could be savings.
Have you ever had a $20, $50 or $100 bill in your pocket and a couple days (or hours) later it is gone and you don't have anything to show for it?
Tracking what you spend for a month or a couple of weeks could be an eye opening experence. You might see some things that you don't necessarily need and could eliminate from your monthly expenese. All those little amounts combined could be saved and put toward acheiving your financial goals for the future. So this month try to track your spending and see if you need everythign that you buy.
There is truly a difference between a want and a need. You want to really stop and ponder before you buy something and determine if it is a need or a want.