January is a smart time to set your financial goals for the year. Your first step may be to assess your budget so you can understand your financial situation. But to achieve your goals, you’ll want to avoid a few common budgeting pitfalls, including: 1) not having a written budget; 2) not saving for emergencies; and 3) carrying too much debt.

To discuss some of the ways to manage these three budgeting pitfalls so that your military family can reach the goals you’ve set, Sarah Roder, AAFMAA Director of Partnership and Member Engagement, spoke with Theresa Bailey, M.S., A.F.C., creator of Daily Financial Success, a company that provides financial counseling services. Bailey is an accredited financial counselor and a military spouse. She resides in St. Augustine, Florida.

Watch the discussion below.