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February 6th, 2012

Financially Fabulous: Rekindle your Love with a Financial Meeting

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If you are just joining us on this 12 month adventure, make sure you read the previous posts here. We are taking baby steps each month this year to becoming Financially Fabulous!

February is all about LOVE.

With Valentine’s day around the corner we focus on how we can make those around us feel special. Instead of wasting money on overpriced flowers and candy this February, (don’t get me wrong… I love flowers and candy! ;) ) why not treat yourself to financial peace? I am pretty sure that is much sweeter than the boxed chocolates.

This Valentine’s day, have a HOT date with your bank account and your spouse. Yes, I want you to actually look at your bank account! Your challenge this week is to have a Financial meeting. If you are not married, you are not being left out! You still have to have a financial meeting with yourself. ;)

Pick a day this week to set down and take a good look at your bank account. Don’t spend all day on it – Set a timer to 30 minutes and go! Take a piece of paper and right down these categories:

  • Eating out
  • Groceries
  • Bills
  • Shopping (clothing, shoes, etc…)
  • Quick trips (sonic drinks, 7-11, etc..)

You can add a few more if you want, but that should get your started. Then pull up your bank account and look at where you spend your money. Go through and put a tally mark by each category that you spent money on. Don’t worry about the amount you spent, just place a tally each time you spend money on that category. Do this for the entire past month if you can.

Take a look at your sheet of paper. Which category has the most check marks? Are you eating out too much? Are you Big Gulp trips killing you? ;) OR do you go to the mall too much? I am not wanting you to cut out anything on this list (yet); I am just wanting you to take 30 minutes this week to evaluate your spending habits.

Once you have done that, set a quick budget! Don’t over think it, but set a budget for each quick category (bills excluded). This budget is to last you one week… only one week.

Let’s review what I want you to do this week:

  • Make a Financial Meeting this week
  • Tally up your Spending
  • Create a small budget for 1 week

That is it!! What are you waiting on??

Stay tuned for next week, where I will have another easy challenge for you.

 

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