Whoever said that would turn in his grave if he saw the levels of spending and consumerism today! Most of us end up spending more than we earn. And you could push the blame on to your credit card company, or on to those malls mushrooming all over the world. With so many new and attractive things available in the market today, you need to be an ascetic to turn a blind eye to all the good stuff! And the easy availability of credit makes it even more difficult to resist shopping.

- Do you feel weighed down by credit?
- Do you have to lead a life of frugality in the last 3-4 days of every month?
- Are you thinking about financial planning for your kids/retirement?
- Are you worried about your financial security?

Each one of us needs to plan our finances at some level. Working women practice it in their careers, tax saving etc. Even housewives have to work out the household finances every month. So how do you manage your household/personal finances? What is the key to avoid falling into the credit trap? How will you ensure timely payments of all your bills without having to pay late fees?

The solution lies in managing your household/personal finances like those of a business. Account for every rupee you earn, and every rupee you spend. Make a monthly budget. Account for the expected expenses and plan for the unexpected/emergency expenses. Create reminders for all your bill payments. Try to provide some leeway for short-term savings every month.

Getting a start on all this should not be difficult. But it may be difficult to stick to it. You will need some motivation to account for your expenses every single day! Memsaab is planning to introduce a free online accounting package to help you gain control of your money. It will help you take charge of your finances, and you will find yourself saving more than you did previously.

You can learn how to save your money and your tax by visiting Why wait, Start investing NOW....

So what do you guys think? Would you feel inclined to use a free accounting package to plan your personal/household finances? Please feel free to leave comments on this. We always welcome feedback from all our memsaabs. You can also send an email on YesWeNeedOne@memsaab.com