There are different schools of thought on budgeting. Some argue that it is pointless to write down everything you spend and that you should strive to earn more money so you don’t have to give up lattes, if that makes you really happy.

Then there are others who feel it is absolutely necessary to know where you money is going. Here is an article which focusses on the latter. In this year of living frugally, I do have to take note of my expenses.

A few years ago, I used the budget template on the Financially Smart website. I was pleased to see that I didn’t have much debt, relative to the other side of the equation.