Create a Spending Plan or a Budget to Solve and Prevent Financial Problems Creating a monthly plan for your spending is one of the smartest things you can do for your finances, yet it’s the most overlooked solution to most people’s financial problems. Having a spending plan or a budget (the technical name for a monthly spending plan) makes life so much easier because you’ve given yourself a guide to decide how you want to spend your money. Ironically, it’s also one of the things that you’ll likely never learn in a class at Cambridge or Harvard. Not to pick on these universities though; most schools don’t teach students how to create a budget. So to help with this lack of training, your third assignment is to outline your budget. If you’ve never created a household budget that works, here is a personal budget workbook to get you started or you can try out this interactive budgeting resource that guides you through the whole process . A budget based on real ...