Every now and then I hear someone complain that they've run out of money a few days before they're about to get their next paycheck. Ever happen to you?

If "Cash" is King then "Budgeting" must be God. Budgeting is the key for any financial success whether it be personal or household, without it you will continually struggle - unless, of course, you earn more money than you spend.

So to design a good budget, and they're not hard to do (just take a look at my 5 minute budget) it's a good place to start at managing your cashflow starting with your expenses.

Over the next week write down every expense you incur that comes from your spending money. We'll make the assumption that you already know about the mortgage/rent payment and also the bills that come in regularly. At this stage we're more interested in the extra expenses; the Kit-Kat you picked up when you bought fuel, the newspaper you grabbed on the way to work and the present you had to get your 10 year old child who's going to a birthday party on the weekend.

These are the costs that are really hard to budget for because thye just spring up unexpectedly and usually spontaneously.

So take the 1 week challenge. Everything you buy - jot it down.