Here’s from their Step #7:
To develop an accurate picture of the amount of money you will have in the future, take a look back.
It’s always good to have a decent sense of where your money comes from but it is especially important to know, really know when you are facing financial challenges. Are you thinking “gross” income and recognizing what gets withheld? Are you thinking the gifts from family and friends will automatically continue in worsening economic times? How “secure” is each source of income? You don’t have to fear, but it is not a bad thing to consider that things can change, too.
Earlier posts in the series: #1: Commitment to change, #2: Assess your financial situation, #3: Clearing out financial clutter, #4: Set yourself up for success, #5: Get copies of your credit reports, #6: Clean up your credit report,