How to Create a Spending Plan or Budget
Today’s Wall St. Journal has an excellent article on how to make a spending plan. Please check it out. Amazingly, I just sat down for the first time to figure out our family budget a couple of weeks ago. There really has never been a need since we’ve always lived well below our means. However, as we become more serious about buying a home, it’s paramount that we have a good understanding of what portion of our income is fixed versus discretionary. This is especially meaningful right now when food and fuel costs are eating away a much larger portion of discretionary income than ever before.