In this week’s Marino on Money we are talking about spending. Ross is here now with some useful tips to help you budget your money. There are two mains reasons people overspend. First, they don't know how much they spend. Try tracking what you spend for one month. Too long? Okay, then try one week. You may be surprised how much you spend in certain places. Next, set a budget. It is impossible to be a good steward of your finances without some type of budget. I must know how much I make and how much I spend. That is where I should start if I want to manage money better. What budget system should I use? Easy question. Use whatever budget you will use. If it works for you, that's great. Do it. Use a legal pad, an envelope system, or a computer program. It really doesn't matter. Just find a way to keep track of your finances. Once I have a budget, I must have the discipline to live within my means. Some people don't like to be told what to do. That includes a budget. It says, you can't buy that, because you can't afford it. If you do not develop the discipline to follow a budget, I'm afraid your financial future will eventually be painful. That applies to me, you, any business, and even our government. Finally, I need to look at where I spend too much money. I'll address that Thursday. If you have a financial question for Ross, you can use the Marino on Money page.
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