For a lot of families, the budget process is pretty simple. The money comes in The money gets spent. If too much money gets spent, the shortfall gets added to the debt load. As the debt load increases, more of the money coming in goes to paying the debt, which leaves less for spending, which increases the debt. It is, and many families can't seem to find their way out of the circle.
Nothing is wasted.
Yet, if asked to produce their family budget, many can not come up with a single scrap of paper indicating just where the money is going. Keep track of your Credit Report Start the process by taking a look at your current Credit Report . A strong and accurate credit report is one of your most important financial assets. Not only is it a clear picture of your indebtedness, it can reveal problems or discrepancies which could bar your access to further credit. Getting a problem repaired now is always easier than attempting to do it after you have applied for a mortgage or car loan.