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Q: How do we keep track of everything that’s coming in and going out?

Diana says...
Start by making a list of all your fixed monthly expenses (rent/mortgage, transportation, utility and cable bills, etc.). This will give you a clear picture of how much, or how little, you have leftover for other expenses. Next, jot down every daily expense for a week. Then add up those expenses and multiply by four. This will give you a good idea of how much you blow in a month. Oh, and if you think you’d prefer to use software tools, the big-box office stores sell a variety of packages that can do everything from tracking expenses to crunching income tax.

Diana Cawfield is an award-winning financial writer with more than 10 years experience. Send her your questions here.