Wealth-Coaching

Debts mount quickly when you are living in the west.  Western culture demands that what you currently have is never good enough.  You must upgrade your living room and bedroom every few years and your kitchen just isn’t good enough if it’s not huge, airy and full of stainless steel.

So, knowing what you MUST spend monthly will allow you to know what you CAN upgrade without adding debt.  While we often don’t forget things like housing payments and car payments, dental expenses and clothing allowance do tend to slip our mind.  However, when these unexpected expenses pop up, we frequently end up in debt. Add to that the new dining room furniture, and you have a recipe for debt disaster.

The best way to find out what you are spending is to keep receipts for a month.  It’s painless and it’s a great way to pinpoint your spending problems.