We want to ask an important question, one that we rarely ask readers (but probably should): Are you investing enough?

It’s an honest question. And you don’t need to undergo some sort of financial crash diet to figure it out. All you really need is a basic household budget and a little time around the kitchen table with the people in your life who spend your money.

Budgets are like balance sheets. They’re pretty simple, but seem to somehow scare people silly. It’s not the list of expenses that makes people uncomfortable. It’s the “other” number that makes them weak in the knees—their income. People just hate to stare that number in the face.

Chances are you think you’re underpaid. We can worry about that later. Why? Because even with a larger paycheck, most folks end up falling into the same bad habits. It’s called “lifestyle creep.”

Get a promotion at work? Most people end up buying that new car they’ve been eyeing rather than paying down debt. And therein lies the problem. So here’s our advice: don’t focus so much on what you make.

Take out a sheet of paper and add up what you spend (be complete and accurate, or it doesn’t count).

If you’re blowing $12 at Starbucks every morning, it’s time to reevaluate whether that double-shot mint latte is really worth it. Yes, it’s only 12 bucks, which most of us can regard as nothing. But it adds up to more than $3,000 over the course of a year, and that’s something. In fact, that really starts to grow over time when the miracle of compound interest kicks in.

Yes, the Starbucks example is a bit of a cliche at this point. But it’s still important to consider your spending. Be honest with yourself. It could be your cellphone plan, your streaming video subscriptions, even your car payment.

Discretionary Vs. Non-Discretionary

Now, the investment experts at Street Authority don’t talk much about personal finance. We normally spend our time looking for investments—either safe, reliable income payers or more aggressive growth picks. We even touch on short-term trades and options.

But getting the most out of your personal budget is important. And it’s something worth touching on from time to time, if only briefly.

What you ultimately need to find with your budget is your total non-discretionary spending. This is what you must spend to keep your household running, and it should be subtracted from your monthly take-home pay.

The rest is discretionary income—funds you can do whatever you want with. Maybe that’s new clothes… maybe it’s an annual vacation… it doesn’t matter. But after you make out a budget, ask yourself this:“Am I really putting away enough money to invest and reach my long-term goals?”

Some people go so far as to put investing in the non-discretionary category. Others leave it in the discretionary column. It really doesn’t matter where it gets listed, as long as you’ve thoroughly considered whether you’re socking enough away. Many items that people consider to be “necessities” are actually luxuries they can easily live without.

Fact: You will never see an individual or family go through a round of budgeting and NOT find they could spend less and invest more. It boils down to priorities. The occasional splurge is just fine for most people. But what if your top financial priority was ensuring you spend as little money as possible so that you could invest? What if that was your way of life?

We’re not saying you should do the same. We’re just saying it’s worth thinking about.

Our advice: If you haven’t already, make a household budget based on three months of spending data.

Write down your spending priorities and seek to right-size your monthly allocation to your investments. You may be surprised by what you see.

WATCH THIS VIDEO: Inside “The Income Zone” With Robert Rapier

Editor’s Note: If you’re looking for ways to generate high but safe income, regardless of today’s uncertain conditions, consider the advice of my colleague Robert Rapier.

Robert Rapier is the chief investment strategist of Utility Forecaster, Income Forecaster, and Rapier’s Income Accelerator.

Robert is one of the world’s foremost experts on energy and income investing, but his deep knowledge also extends into other profitable segments. Want to learn more about Robert’s money-making trades? Click here.