Unfortunately, in the modern world, being responsible with your money can be extremely challenging. For this reason, you must learn as much about financial matters as you possibly can. Then, you will be able to make sound financial decisions with more confidence. Creating a budget is the best place to start. To do this you need to determine every area you are spending your money on and how much income you have coming in. Be sure to include extra income sources such as alimony, rental income, etc. Make sure you don't spend more than you make. Being Responsible with Your Money You should then figure out how much you spend each month. It is crucial that you include what you pay for insurance, car maintenance and gas. Also consider how much money you spend on what you eat, including the store and when you go out to dinner. Record all other expenses; do not neglect the incidentals like child care and your entertainment spending. Be relentless in working through your list. The more … [Read more...]