Take this one simple step
I want to encourage you all to take this one simple step... schedule a money date! The purpose behind regularly scheduling money dates is to familiarize yourself with your financial priorities, review progress towards your goals, check in with your spending, and give yourself time to complete relevant action items from past money dates. The topics you cover on each date depends on your needs at the time. Money dates can be solo or with a partner; the important thing is to get a date on the calendar and treat it as you would any other scheduled appointment. Don't skip it!
How frequently should I schedule my money dates?
The more frequently you have money dates the easier they get. I recommend weekly, if you can. But don't let perfection be the enemy of the good. If monthly or infrequent dates are what you can swing, start there. At the end of each date make sure the upcoming date is scheduled on your calendar.
How long should these dates be?
Try scheduling about an hour for your money date. Any longer and you may find your energy depleted. When in doubt, best to quit while you are ahead; there will always be future money dates to continue the work!
What should I do during these money dates?
Here are some suggestions on what to do during your money dates:
Log into your credit card account(s), checking accounts, Venmo, etc. Review your spending for the recent week(s). Consider if there are any spending changes you want to make based on your review. Ex: Cancel a subscription service, etc.
Brainstorm any big expenses coming up. Map out a plan to save for upcoming expenses. Ex: Travel plans, holiday gifts, etc?
Complete any outstanding Action Items from past Money Dates.
Do I have to?
I compare staying on top of our financial well-being with working out or eating healthy. There is no finish line or end point. It's ongoing work and something we want to get in the habit of doing regularly. The key is make money dates less of a chore and more of a calming ritual. Practice makes perfect. Light a candle, grab a glass of wine or favorite beverage, and set the mood with some good tunes. Remember, by doing this work you are setting yourself up for success! Bravo!!
Check out my Resources page for my fun money date handout!
