The most important step in getting and keeping control of your personal finances is to establish a monthly cash flow plan or budget. As the old saying goes, "Those that are failing to plan, are planning to fail." With 70% of all Americans living paycheck to paycheck and spending $1.22 for every $1.00 earned, it's no wonder that personal financial failure is more common than success. The Small Business Administration says that the number one reason small businesses fail is due to a lack of planning. The financial affairs of your household are in effect, nothing more than a small business. The goal of every business, small and large, is to make profits. In regard to your household business, profits equate to savings. So, the number one purpose for a monthly budget is to establish control so as to protect and maximize your savings.