When I think about my family finances, I do not get caught up in the emotional traps that others seem to. Perhaps because I believe that managing money has, at its base, simple accounting and mathematic principles. If you can understand what the words “income” and “expenses” mean, then you can probably manage a budget, if you don’t let emotions get the best of you. Some simply look at their income and unwittingly imagine that their entire salary is theirs to spend. Unfortunately, only a part of your gross salary is ever yours to spend. The rest goes in income tax, accounting fees, interest on loans, and all those fixed expenses. Justifying your shiny new car because of your high income/hard work is an example of letting your desires run away with you. (I wrote more about this trap in…