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Tracking Your Expenses

This is the important first step to helping you understand your financial situation.

Over a decade ago, Morningstar's director of personal finance Christine Benz began her 30 Days to Financial Fitness series on with a quote from psychologist William James, who said there were three rules to change one's life: 1) start immediately, 2) do it flamboyantly, and 3) no exception.

Benz said James was right on the money with the "immediate" part. But does enacting lasting change in your life need to be momentous or flamboyant? "No," she said.