When’s the last time that you sat down and truly looked at your finances? Really broke it down to understand exactly what you have, what you owe, how much you make and how much you spend on a daily, weekly or even monthly basis? While it may not sound like the most fun way to spend an evening, it’s important to do so to know your financial situation.

Getting started to take control of your finances is hard. It’s often easier to turn the other way when money troubles start to build up, but we all know that outcome to that action…right? It’s time to be real with yourself is now. The longer that you wait on taking control of your finances, the deeper that hole will continue to be.

Pick a day, and start. Sit down and write out your income, your debt, your loans and your expenses. Sugarcoat nothing, and be transparent about everything. If you are married, do this exercise with your spouse so that both of you are 100% aware and honest with each other about your current financial situation. It’s time for you and your household to take control of your money.

Write out everything. Talk about the payments that you have due each and every month, and possibly restructure who takes care of paying those bills. It’s imperative that the bills get paid and on time no matter what, so having one person in the family be in charge of making certain it happens is a good idea. That way, it takes away the blame game and the “I thought you were going to pay it” aspect and makes certain that everything gets paid.

Once you have everything under control with your expenses and your income, it’s time to take a look at your current savings situation. Do you have a banking account or a savings account that you put money into weekly, monthly or whenever you get paid? Have you and your spouse sat down and talked about retirement or how much money you will need to have to live on once you are near retirement age?

If you haven’t sat down and talked with someone about future financial plans, it’s time. Companies like Crediful are out there to help guide you on your way. There’s no time like the present to start figuring out ways to beef up your retirement and savings fund. When the day does come for you to retire, think about how nice it will be to know that you already have a nice little nest egg just waiting for you. No stress, just a nice smooth transition from the working world to the retirement world.

Taking control of your finances should be a priority for you and your household. Planning for the present and the future is something that you have complete control over and should begin focusing on asap. The more time that you can focus on yourself and your current money versus debt situations, the more likely you’ll be prepared for the future. Don’t delay in getting your financial situation set up because it can help alleviate a lot of stress for you and your family as well!