Family Budgeting for a New Year

Think of your budget as how you steer the ship, financial expert Rachel Cruze says

A mistake that people make is to not budget at all. Set a monthly budget; it will allow you to track your spending and saving throughout the month. baranq/Shutterstock

As the new year approaches, many people see the blank slate as another opportunity to fine-tune their finances. One sure-fire way to do that is to create a budget and stick to it.

I asked Rachel Cruze, author, financial expert, and host of “The Rachel Cruze Show,” for her advice for families setting up a fresh new budget for a fresh new year. Here’s what she said.