(ThyBlackMan.com) In order to achieve peace of mind financially, you need to take control of your financial reins. Your money issues will not resolve themselves; you need to make a conscious decision to save yourself, because your loved ones depend on you.
In most cases, you do not need more money to solve your financial woes; your solution lies in front of you.
Record all your expenses. When you are ready to take control of your finances and exert your power, you need to see exactly where you are spending your money. Do not make simply create a brand new budget from scratch and guessing what spending should be in each area. Even though it may look good on paper, in reality, it may not be feasible.
Other than using a computer spreadsheet, the simplest way to keep a record of your expenses is with a pencil, paper, and your bank statement. Using your bank statement, you can see exactly where your money is going. Be prepared to be surprised; little purchases like your daily cup of coffee add up.
You can also record your expenses using money management software; some banks even partner with particular companies, using online software or mobile apps, that automatically fill in your expenditures.? 
Once you see what you are currently spending your money on, it is easier to make the adjustments you need to bring your finances under control. For example, looking at your expense for the first time you might see that your spending on daily coffee, or other habits are out of control. Maybe, it is not something you can cut out right away, but seeing where you can cut back is important. This is creating a budget can help.
Create a budget that serves both the present and the future. Now that you see exactly how you spend your money, you can now create a budget. Begin by creating categories: rent/mortgage, utilities, auto payments, insurance, food, clothing, savings, etc. Of course, you can do this using a pen and paper, but using a computer spreadsheet or financial software will make the math much easier.
When determining where your spending needs to be cut down, prioritize your expenses. Rent/mortgage, utilities, and car payments should be paid first as they are less likely to fluctuate. Expenditures that do not fall into this priority are ones you need to focus on when cutting down your spending. A good budget will also leave room that allows you to save for long-term goals like school, or a down payment for your first home.
Consider your budget a living document; one that requires constant review and adjustments. If certain spending goals are easy to achieve, think about lowering it and putting that additional cost into saving or another category.
Use the same principles in your business. If you run your own business or are looking into starting one (read our article for business ideas for those with experience in manual labor), the principles discussed for taking control of personal finance are not that much different, just on a larger scale.
It is absolutely necessary to record your business finances using specialized software, and wherever you can, you should attempt to automate the process, keeping it as simple as possible. For example, invoice management software helps automate the accounts payable process.
Take control of your money. Once you have taken control of your finances, you will feel a weight lifted off your shoulders. It will allow to focus on other things you want to accomplish. Maybe you have a business idea, or just want to spend more quality time with your loved ones. You do not need to be bringing in a ton of money to have financial peace of mind; You just need a solid plan and determination to follow through with it.
Staff Writer; Kelvin Lee