1. Time. I know that I need a huge stretch of time to sit down and look at my money. I try to stay on a regular schedule: an hour a week, two hours at the end of the month, and a half-day or day every quarter. This means I'll be ready to hand over prepared documents to my accountant come tax time. For me, I do best when I have a stretch of time set aside so I don't feel rushed or pressured, and can just sit and focus. I hate to say it, but I really need a day set aside just for this when I'm not doing client work. Doing it when I have clients on the mind just doesn't work for me personally. It isn't important that you do it my way, just that you do it. Figure out what leads to success for you (e.g. coffeeshop? home with no one around? office with a yummy coffee?)
2. Energy. Guess what? If I'm feeling like crap and in the last two weeks of my cycle I am NOT going to look at money. Instead, I'm going to look at it during the first two weeks when my estrogen is rising and I'm in that "confident and positive" phase of my month. I'm not going to do it if I'm sleep deprived and stressed. Again, that won't make money decisions do-able. I'm very protective of myself in this way. Why make this harder than it needs to be? Plan for success.
3. Organization. The only way my quarterly peeks work is if I have been organizing my money as I go. If not, then when I'm sitting down to review money, I'm going to be doing book-keeping tasks instead. Not sure what I mean about book-keeping tasks? I'm talking about the week-to-week tasks of categorizing expenditures, attaching receipts, Make sure you are working on your expenditures and income regularly so that you don't have to undo a big mess later on.
Want to join me on this journey? Here's your homework: open up your calendar and schedule time to look at money. You will need: 1) An hour a week; 2) Two hours at the end of the month, 3) Three hours at the end of every quarter. Schedule it now and you'll be able to stay on top of your money all year long!
Next week on the blog I'll be talking you through the weekly steps of keeping track of your money, so stay tuned!
In the next few weeks I'm going to be talking on Instastories about how I track and organize my money, so if you aren't on Instagram, now's the time to do it! Find me @launchwellnessaustin!