Budgeting isn’t always the nicest word to use when talking about money. For many, it’s full of negative connotations. Spending plans are a more accommodating alternative for many. It will put you in the driver’s seat of your financial future.

A spending plan certainly sounds a lot better than a budget, and it’s a more flexible and customizable plan. Instead of restricting themselves from spending willy-nilly, individuals can focus on where their money is going and plan for next time. There isn’t one way to create a spending plan. Everyone has different inflows, outflows, and spending habits. Without a spending plan, things slip through the cracks, such as memberships you don’t use and items you forgot you signed up for.

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Judy Heft is a daily money manager and the CEO/founder of Judith Heft & Associates


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