Tuesday, October 19, 2010

Get Your Finances On The Calendar

I have read that people spend more time planning a one week vacation than they do planning their retirement which could last 20+ years. Maybe retirement is not on your radar yet, but what about eliminating your consumer debt or contributing to your emergency fund. Maybe you just want to pay your bills on time this month to avoid the late fees.

Make it easy for yourself and simply set aside some time every week and devote it to your finances. And please don’t tell me you “don’t have time”. There are 168 hours in a week, do yourself and your balance sheet a favor and FIND some time.

This is a two step process:

1. A weekly commitment

Schedule an hour or two once a week to manage your home office and tackle your to-do list. Whether you are able to set aside the same day and time every week or you have to fit it in around your family’s busy schedule, mark the time on your calendar.

This time could be devoted, but not limited to:

2. A family meeting

Set aside time to communicate with your spouse or significant other. This could be weekly, bi-weekly, or monthly. That is for you to decide

This meeting could be devoted, but not limited to:
  • Reviewing household spending
  • Reviewing your family balance sheet
  • Planning big purchases and holiday spending
  • Planning home improvement projects
  • Creating financial goals and reviewing outcomes

We have worked hard for our paychecks, now let’s work hard to maximize them. I’m going to take my own advice and set aside time each week to work in my home office.

My husband and I have a meeting scheduled for Wednesday night and I have already let him know that I have an agenda written out.

How consistent are you with setting aside time to devote to your personal finances? Let us know your schedule in the comments.

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  1. You are a genius and I now am in love with your site. LOVE this post!!!! Yes, people do SPEND MUCH too much time planning how to SPEND their money instead of saving it. I was actually thinking if people spent as much time planning their finances as they did trying to find out what Paris Hilton wore last week, we'd have a much more financially stable population.

  2. Excellent points on the subject... Thank you so much for stopping by my blog today. I always welcome comments as it give me a chance to meet new friends/bloggers.
    I am already following you back.
    Have a great weekend!

  3. My husband bought a laptop for me in 4 years ago [we didn't have a computer prior to this] and since then I have created a "Billsheet" [spreadsheet] of our bills that are to come out every week. Since I have done this we have kept better track of our money, pay bills on time and have less arguments about money in general. He knows I have it set and if need be I can change it, but I prefer not to so we can keep it all on track. We have a deal that he is thee sole bread winner, I am a stay at home mom or our 2 girls. I basically control the whole household. I cook, clean, schedule things, manage the money, pay the bills, etc. He makes the dough and I keep us afloat. It's what works best for us.


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