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By Rita R. Robison, Consumer Specialist

In our Guest Blogs series today, consumer specialist Rita Robison (of Survive and Thrive Boomer Guide) talks about spending plans. You can find more information about Rita here on her Boomer411 trustee profile page. You can also read her previous post here.

If the word budget scares you, you may want to set up a spending plan instead, Consumer Reports magazine suggests in its August 2008 issue.

In the article, “Budgeting: Create a Spending Strategy,” these steps are offered to make your spending plan simple and painless. Read the entire article from Consumer reports here.

• Set goals
• Track expenses
• Plan for surprises
• Set priorities
• Fill the gaps
• Update regularly

For tracking your plan, a pad, pencil, and calculator will work. However, Consumer Reports says you could save time following your plan electronically.

Here are three free Web sites, which offer budgeting functions, that Consumer Reports’ staff reviewed.

• Buxfer (www.buxfer.com)
• Geezeo (www.geezeo.com)
• Yodlee MoneyCenter (www.yodlle.com)

The article advises consumers to be sure to check the privacy policies of sites before they sign up to determine how their information will be used.