If you can answer yes to any one of these questions, you may have a leak in your budget. Leaks in your budget mean you are spending money without knowing where it is going. This can be a serious problem. It can threaten your financial security. Although it is unlikely that you and your family have everything you want, stopping leaks in your budget can help you get more of the things you want and need.
Budgets leak for many reasons.
Learning to recognize some of the reasons may help you plug the leaks. Planning can be simple, well worth the effort, and can make your dollars buy exactly what you need. Planning will help you spend your money wisely rather than letting it disappear. Write down the amount of money you have to spend in one month. Then write down what must be bought within this time.