Records show where and how your money is being used. From them, you can see where you are overspending and become aware of your poor buying habits. Records help you decide if you should keep using your present spending plan or make changes. This is something you must decide. Remember, spending is a leak only if the spender is surprised at the amount being spent and feels that it is not worth the money.
Different families have different attitudes about the purpose of money.
Some see money as a way to bring themselves power or prestige. Others may save, enjoy, share, bribe, reward, or influence others with their money. Recognize how the following family characteristics may influence your spending habits. Your family size, ages, sexes. Young families need a good deal of money to settle into their first homes, to start a family and, sometimes, to start a business.