HOW TO DO A BUDGET

1. Ground Rule: Do not blame other person for their choices in spending.

2. Gather all income data from jobs, freelance work, Tupperware, dividends, etc.

3. Gather all expenses from 2005 check book, credit card statements, and last year's credit card balances, then subtract December's remaining balance.

4. Looking at what you spent last year, decide if you need more income or can reduce some of your expenses. Remember the Ground Rule.

5. Make a personal list of each of your "Danger Items" and agree that between your spouse's and your danger items, that neither of you will spend any money on these items for the first 3 months you are practicing spending only up to your budget.

6. Save whatever you can, whenever possible.

7. Star or highlight which expenses you can cancel or do without if you need to go into emergency mode budgeting.

8. Review your mortgage interest to determine if you should re-finance.

9. Determine which credit/debit cards to keep, and which to cut up.

10. Practice, practice, practice. Remember the Ground Rule and love each other through the hardest parts.


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