Where does your money go?
When you decide to take charge of your spending, the first thing you'll need to do is figure out where the money goes every month. Look at your mortgage or rent, water, electricity, gas, and phone bills first, and write them down in a column on a piece of paper. Some of these bills fluctuate from one month to the next - like electricity and gas - so put down the most expensive payment you make for them (i.e., the hottest or coldest month of the year). Then add in your student loans, car payments, credit cards, any services, such as a yard worker, pest control, maid service, and/or pool maintenance person, newspaper, haircuts, allowances for the children, and other "non-essential" payments you make each month. If you pick up a coffee every morning on your way to work or have lunch at a restaurant every day, add those in as well.
When you are finished, add up these numbers and put the total at the bottom of the list. Now you know where your money goes every month.
Income
On a separate sheet of paper, write down your monthly net salary. Add your spouse's net monthly salary below this number, then add in any child support payments you receive or other fixed income sources, such as rental properties. Add these numbers together and put the total at the bottom of this list. You now know how much money you receive each month. Hopefully this number will be larger than the one on the outgoing list.
Budget
Now you should compare the two lists and decide where you can economize in order to pay off your loans faster and put some money aside for the future. Is a maid really necessary, or are the kids old enough to help out by vacuuming and dusting? What about yard work and pool maintenance? It may be convenient to pay someone else to perform these tasks, but if you're trying to pay off your debts or save for a vacation, you may need to rethink your priorities.
Clipping Coupons
An easy way to save money every time you go to the grocery store is to clip coupons for the items you use most often. Keep your coupons with your grocery list, and take advantage of the savings every time you shop.
Making and using a budget takes a little extra effort, but the results will be well worth it. Keep your goals in mind, and you won't be as bothered by the little inconveniences.