I know this is a strange question to ask as it sounds a bit crazy. Unless you know if you are spending more than you earn you won\'t be able to calculate possible savings for future purchases or lowering your debt.

Monthly Savings

Monthly savings can be achieved by cutting your monthly outgoings/bills which means changing your finances and not your whole life. If you are still having problems cutting back, it may well mean that you do need to change your lifestyle as well as cutting back. A lot of people find this sort of action a bit heavy and extreme. This is fine, but unless you evaluate your monthly income and expenditure you\'ll always be on the wrong side of debt.

You may be a person that spends less than they earn, and in this case you simply need to free up wasted cash so it stays in your pocket and not in your local boutique. This is why it\'s vital for you to find out exactly where you stand. There are two ways you can do this:

Danger Signals

Are you in debt? And if you are what are your debts from? If you didn\'t purchase something of significance, i.e. buying a car or buying a motor home, but used your credit card to literally plug the hole in your repayments, this will undoubtedly highlight the danger signals. You are in a position where you are spending more than you earn.

Take Action and Review Your Finances

The best place to start is to have two columns of income and expenditure. Tally both sections and then deduct your expenditure from your income. Try not to leave any items out and first and foremost, be truthful. Sounds obvious doesn\'t it? Believe it or not, there are still so many people that haven\'t figured out this basic equation. (You may find it easier to work the figures out on a spreadsheet).

Most people are shocked with the results as they thought they were well within their monthly budget for the month and year. Try it out today and make a start to budgeting and making changes. If you find yourself spending more than you earn, remember, it\'s never too late to make a positive change and start cutting down on the bills of non-vital purchases.

Download the Debt Help Budget Calculator today to find out if you are spending more than you earn at http://www.debthelpmagic.com/Eliminate_Debt.html This article has been written by Desmond Dreckett who is also a keen contributor to http://howtostartyourownbusinesstoday.com

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