Does money trickle out of your wallet like a lazy river, a babbling brook, or rushing white water rapids? Government figures show that many households with a total income of $50,000 or less are spending more than they bring in thanks to the liberal availability of credit. This doesn’t make you an automatic candidate for bankruptcy, but it’s definitely a sign you need to make some serious spending cuts. A budget is the only practical way to get a grip on your spending. Creating a budget requires that you: Identify how your money is spent today. Evaluate your spending. Set goals that take into account your financial objective. Track your ongoing spending to make sure it stays within your established guidelines. Here’s how to put a dam on your uncontrolled cash flow: Watch out for cash leakage. If withdrawals from the ATM evaporate from your pocket without apparent explanation, keep…
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