I want you to pick one day a month that will be your “Money Day”. You’re going to go over your finances (with your partner and/or family) during Money Day, and make any adjustments that you need to make and check in on your credit score and net worth to make sure you’re on the right track.
Since you’re just getting started on this finance journey, you might want to have a “Money Day” every week (maybe for a month or two) – just to iron out all the kinks.
I just want to clarify that for this step you don’t actually have to do a “Money Day” (not yet) – all you’re doing is picking a day.
Actually Pick a Day (Be Consistent)
For your weekly money days, I want you to pick the same day every week (maybe Saturday or Sunday?).
You have to be consistent so this becomes a habit.
Also being consistent means you’ll know when the next Money Day is coming, and you can be prepared.
Later on when you move to monthly money days, you still want to be consistent with the date. I suggest picking one of the first or last days of the month so you can go over the upcoming month’s budget.
Pick the Length of Time
Money Days are important, so don’t try to cram them into whatever spare time you have. Make time for it.
I suggest blocking out 20-30 minutes.
Make it Fun (and Painless)
This doesn’t have to be a super serious event. Make it fun!
Order some dinner, have snacks, a special drink maybe?
My husband and I usually order Chinese food and make some Thai tea for our Money Days! 🥡
To make it feel less “formal” maybe you can set up a comfy area for your meeting? Nice cozy place on the couch with blankets and pillows?
Before your Money Day happens you want to make sure prepared. Make sure to have any recent financial documents ready and/or ways to access your accounts online (apps, online banking, etc). And don’t forget pen and paper!
What To Talk About
Here’s some of the things you should definitely talk about:
- Your current spending
- Your budget
- Sudden expenses that have come up
- Upcoming big bills
- Recalculating your net worth
- Checking your credit score.
I’ve created a checklist about things you should be talking about during your Money Day. Feel free to add to it!
One you’ve read through Day 2, pick the date of your first Money Day and add it to your calendar!