Debt-Free Lifestyle:
Establish a Spending Plan
BY DR. TODD COONTZ

A Spending Plan Is Not A Budget.

The word budget is derived from the Old French bougette, the diminutive of bouge or leather bag, and means a small purse. A budget confines, restricts, almost suffocates the life out of you. It's no wonder that most people don't stay within them very long.

A plan, on the other hand, is a detailed method worked out beforehand to accomplish a goal. Having a spending plan is the single most important step to getting out of debt. A plan will show you exactly where you stand with your finances. It gives you the opportunity to see everything in black and white. Hence a spending plan will help you better organize you and your spending.

Initially, creating a spending plan will take an investment of time and focused attention. That's the discipline and will-power part of getting out of debt. It's really not as difficult as it sounds and if you keep a strict record, at the end of the year you'll feel a sense of accomplishment and pride.

Remember, Sir Winston Churchill didn't budget his victories; he planned them! Establish A Spending Plan Today!

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