How does an exercise like budgeting miraculously transform your monthly finances from a source of anxiety and stress into a solid platform for achieving your goals as an individual or as a family?

The short answer is that it doesn’t. Budgeting, and it’s bigger sibling, Financial Planning, are merely tools. Properly applied, these tools allow you to take control of your finances by organizing how you will earn and spend money. They allow you to identify opportunities for recurring savings and give you a way to plan your way out of a financial deficit, or into a position of financial strength.

Let’s take a closer look at the process and how it can help transform your financial situation.