Chapter 9
Spending Plans: The Key to Beating Debt

In This Chapter

◆ Why budgets alone fail
◆ Why spending plans work
◆ Using your budget to create a spending plan
◆ The two-account system
◆ The three-account system for shared finances
◆ Adjusting your spending plan
Budgets are a lot like New Year’s resolutions. They’re something that you make in response to a situation you’re unhappy with. You feel empowered and proactive as you make them. Yet budgets so often fail within a short period of time.
The reality is, for most people, budgets alone do not work.

Why Do Budgets Fail?

Budgets can fail for many reasons, but it is usually not because you lacked commitment or motivation. Motivation and commitment was what it took to make the budget in the ...

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