Managing money obligations, spending, and financial decisions take time. It’s kind of like a second or third job. You could call it bookkeeping; I call it – working on your money. I tell clients that if they don’t work on their money, someone else will, and later they will wonder where their money went and what happened to it. I tell them to pick a day, choose a time, and prepare a place, keep reading.
Below are some tips to help you when working on your money. I believe that we all do some type of bookkeeping currently but maybe not in this manner. I hope that the tips will help you consistently work on your money.
Pick A Day of the Week to Work on Your Money
First things first, pick a day of the week when you will work on your money. It could be Sunday or Saturday morning unless you have young kids because they are probably waking you up. It could be Monday or Thursday. Whatever is good and convenient for you, pick a day and stick to it. This is the day that you will be working on your money.
And although the day should be convenient for you, if it stops being convenient after a while and stops working for you for whatever reason, change it. One of the things that I know about working on your money is that you set the parameters. It’s your day, and it’s your money.
Working your money is all about you.
Say the same day.
Choose a Convenient Time to Work on Your Money
After you pick a day, it’s time to choose a time. Again, this time should be convenient for you. Be specific with your time, 8am until 9am. And if you are not a morning person, don’t pick mornings. Whatever time you decide, this is the time that you will work on your money, planning your spending, paying bills, and reviewing financial goals.
Say the same time.
Prepare a Place to Consistently Work on Your Money
Picking a day and choosing a time is probably the easy part but preparing a place is where it starts to get somewhat tricky. Now it’s time to prepare a place to work on your money. The site should be comfortable with few distractions.
For example, I love music, and if I had music playing while trying to focus on something, I would not be able to because I would be distracted a lot.
Anyway, you will need a table or desk to spread out and work on your money. You also need to prepare the place with everything you need to work on your money; pen, pencil, marker, paper, spreadsheet, calendar, computer, and anything else you need.
You should have and keep everything you need at the place so you can consistently sit down on the appointed day and time and be undistracted, plan your spending, pay bills and work on your money.
This will help you develop a regular schedule for working on your money; you must stick to it and be consistent. Consistency in your money management practices is one of the GoldenRules. Another is pick, choose, prepare. Getting started will be time-consuming, but it will become easier once it’s set up to meet your needs and you get into the habit of working on your money. If you did nothing in the beginning but just sit there on the picked day and chosen time and at the place you prepared, sit there anyway. Even if just for 5 minutes and once you consistently do this for a while, it will become a good habit and easier.
Say, the same place.
After you Pick a Day, Choose a Time, and Prepare a Place
After picking a day, choosing a time, and preparing a place, you are ready to start working on your money. You track spending, pay bills, and record expenses when working on your money. You are also reconciling your spending plan with your actual spending, determining what went wrong, planning for major purchases, saving, investing, and more. All the fun stuff it takes to manage money well and what I believe we all should do more of.
Now say, the same day, time, and place.
Managing money obligations, spending, and financial decisions take time. Work on your money on the day you pick, at the time you choose, and at the place that you prepare, same day, same time, and same place. Sit down, plan your spending, pay bills, manage money, and reach financial goals. Get into the habit. Doing this will help you manage your money. Picking a day, choosing a time, and preparing a place seem like simple things, but they can help you get into the habit of working your money. And you know what they say, habit is what keeps you going. What keeps you going? Comment below. I would love to hear from you.