DON’T cut out all your fun. Decide, along with your family, what’s most important to you in terms of living a happy life. Then divide up your budget accordingly. If your family really enjoys eating out, plan for it. Just keep in mind you may have to spend a lot less on groceries or clothing. If none of us are the same then our spending plans shouldn’t be the same. If you love to read then cutting back on cable TV wouldn’t be a problem. If you love to watch sports, then cutting back on cable TV would be a serious problem.

DO remember that personal finance is just that—personal. Everyone loves to give advice, and everyone loves to share their opinions. What worked for your mom and dad may not work for you. On the other hand, they probably have years of wisdom you can draw from.

Tags: Personal Finance

This entry was posted on February 1, 2008 at 2:50 am and is filed under Financial Advisors. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.