Chances are if you have a house or a car you've financed that purchase. And even day-to-day expenses such as gas, groceries or business lunches are handled with credit cards.
To be financially sound, the goal should be to have a handle on your debt. You should have control over what you owe instead of it controlling you.
My husband and I do this about every six months or so because, like most people, our finances change periodically. If we get raises, buy a new car or add a new member to the family, the money situation changes.
In order to really know where your money's going, you need a realistic assessment of what comes in and what goes out.
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