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If you’re spending less than you earn, you could apply the extra money to one of your debts through the FFEF “roll-up” process or increase your savings or investments. If you’re in a negative cash-flow situa- tion, determine how you can cut back on your expenses. If you can’t find ways to cut expenses, then evaluate what you currently view as “neces- sities.” Chances are they may actually be luxuries you can live without.
As new technology for managing money and banking continues to make spending easier, individuals, families, companies, and govern- ments need to adopt more effective budgeting methods, strategies, and tools to balance their outflows to their inflows and avoid deficit (or debt-based) spending.
What is a Budget?
