So you decided that you are going to take back control of your money, get out of debt, and start living below your means. You're certainly not alone. But how's that going for you? If you're stuck because you don't really know what to do first, you may need a jump-start.

Start by tracking. This means keeping a written spending record for at least 30 days. Write down exactly where every penny goes. If you bring home $793.42 this week, ideally next week you should be able to account for every single cent.

I suggest that you track on a daily basis. Every morning, start with a fresh sheet of paper. Throughout the day, as you spend any amount of money, record what you bought and how much you spent.

At the end of the month, take out all of those pieces of paper, and categorize your spending. You will see spending patterns. Perhaps you will notice that you're spending upward of $3.49 a day on lattes. Of course, there is no right or wrong answer here. But you might want to point out to yourself that if you keep this up for a year, you will shell out $1,273 on just this item.

Do an evaluation for each category. Where are things really out of line? Can you see why you are spending more than you earn? How much of your spending was done with cash? Debit cards? Checks? Credit cards? What might you have done differently to come out with a more favorable end?

You won't need to hire a professional financial planner to point out problems in your spending. You will begin to see them instinctively. Putting things down in black and white has a way of clearing away the fog.

Cutting expenses in every way possible is the next logical step. The goal is to get your outgo to be less than your income by trimming expenses -- a little bit in every area rather than eliminating any category altogether. Consider that if you had your lattes just three days a week rather than seven, you would trim more than $727 from your annual spending.

Once you know where you are, you'll be able to map out a plan to get where you want to be. The simple steps are outlined in the revised edition of my book "Debt-Proof Living," available in most libraries and bookstores. Read an excerpt in the bookstore at www.DebtProofLiving.com.

Don't expect to change your spending patterns overnight. It takes time, but little by little, you will be amazed at how well you do if you just keep going. And when you slip or even fall flat on your face, just pick yourself up, keep going and never give up.

Mary Hunt is the founder of DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.
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