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A carpenter uses a set of house plans to build a house. If not the bathroom might get overlooked altogether.

The rocket scientists never start building a new rocket without a detailed set of design specifications. However, most of us go blindly through the world without an inkling of an idea about finances and without any plan at all.

Not very smart of us, right?

A money plan is called a budget and it is very important for us to reach our desired financial goals.

Without a plan that is drifting aimlessly and end up stranded in a remote financial reef.

If you have a spouse or a loved one, you should make this budget together. Sit down and figure out what your joint financial goals are … long-term and short term.

Then plan your route to reach those goals. Every journey begins with one step and the first step in achieving its goals is to make a realistic budget that both can live with it.

A budget should not be a financial starvation diet. That will not work long term. Reasonable allocations for food, clothing, housing, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.

Even a small amount saved will help you reach your long-and short-term financial goals over time. You can find many budget forms on the Internet. Just use any search engine you choose and type in “free budget forms”.

You get plenty of hits. Print one out and work on it with your spouse or partner. Both need to be happy with the end result and feel it is something you can stick to.

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