If you are currently unsure as to whether your income or spending is more then, you can definitely use the free debt planners that are available online.
A debt planner is actually a nifty excel spreadsheet that helps you in putting your entire spending and sources of income and getting to know if your income exceeds the expenditure or not.
After you get to know the outcome, you can easily see your current financial status.
What is actually special about the debt planner is that it is very accurate unlike your bank account which may show you a balance even when you are not in a healthy financial position.
The major problem that people face when using these is procrastination.
People tend to think that a lot of effort is required to fill up all the columns and hence, decide to leave the task undone.
They do not realize how much the debt planner could have helped.
Another major problem that tends to show up when people fill in the debt planners is their habit of under estimating the expenses.
While it is true that only a guy can make an accurate statement of his expenses, it is also true that holding back expenses almost make people feel as if they are spending less even though they know that they are not spending a penny less! Debt planners should definitely be used and if the these are used wisely and coupled with a few money saving techniques, a person can actually end up saving almost a 1000 dollar in a single year! If you are still finding that you are spending more in spite of trying hard to save money, you should look for a way to add an additional stream of income.
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