Comments on: Regularly Check-In On Your Finances

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Tue, 01 Sep 2009 13:16:38 +0000

I check the household budget monthly and run an occassional spreadsheet. The investments are left for quarterly, unless something unusual is going on.

By: Corporate Barbarian

Corporate Barbarian — Mon, 24 Aug 2009 18:13:04 +0000

I check in every Monday, and I look at every checking, savings, CD, 401(k), and IRA account that we have. I like keeping a close eye on my finances.

By: Economics Lover

Economics Lover — Sat, 22 Aug 2009 16:07:14 +0000

And what about debs? I listen it is most attentioned part of financial plan. I don’t know how to live without credit card – and what about you?

By: David @ DINKS Finance

David @ DINKS Finance — Fri, 21 Aug 2009 20:27:44 +0000

I check my finances often. I try not to spend too much time on my financial situation, because I want to utilize my time to find new and better ways to make my money work for me. Perhaps there is a stock that will likely rise in the near future – I will want to plow some cash into that.

It’s important to check on your finances often, but don’t forget to look for new opportunities!

By: Martha

Martha — Fri, 21 Aug 2009 01:40:43 +0000

I got to watch Top Chef LV and the Top Chef Masters finale last night. It made me appreciate how much work it takes to become a chef at the level of the “Masters.” Their dishes were so intricate that I would think it would take one of the regular Top Chefs a whole day to prepare it!

As for checking on our finances, I agree once a month is sufficient.

By: mapgirl

mapgirl — Thu, 20 Aug 2009 20:54:06 +0000

Check everything daily. It’s an admitted obsessive compulsion. It’s part of my morning routine, now that I don’t have to check the batch logs on servers at work anymore. It’s replaced all that. Plus it helps me figure out if _tonight_ is the night to go shopping or not.

I just got into Top Chef Masters, but the LV show doesn’t interest me. (My boyfriend thinks that Kelly Choi looks like a bobblehead doll.)

By: MyMeans

MyMeans — Thu, 20 Aug 2009 20:39:09 +0000

Just wanted to also say that I love Top Chef. Season Premiere in Las Vegas and Top Chef Masters finale was great. And yeah, I think monthly is a good timeframe to review all your accounts and make sure you didn’t overspend and that your savings are going in the right direction (especially if you have a goal for something like a house/car/etc.).

By: Aric

Aric — Thu, 20 Aug 2009 20:01:42 +0000

I do the same thing with the receipts. My girlfriend thinks I’m extremely anal for doing it. However, I did catch an “mistake” once – a waitress at restaurant decided to tack on a couple more dollars even after I tipped her 20%. It’s small change but I at least know that I’m on top of it, especially if it happens next time but with a larger amount.

By: Russel.G

Russel.G — Thu, 20 Aug 2009 19:25:50 +0000

I have been recording balances on a spreadsheet for about 1.5 years now. Each month has it’s own worksheet, and I’m always adding more information I want to track over the months.

It’s interesting to see the effect of life on our finances and vice versa through this record. For instance, I look back a year ago, and see how we were on the right track and credit balances were declining. But after losing my job at the beginning of the year and moving to a new city, we’re back where we started, but more determined!

The only thing that doesn’t happen regularly is the “family meal.” I have the data; I need to make the co-planning a priority.

Great post, Jim!

By: eric

eric — Thu, 20 Aug 2009 17:43:43 +0000

I typically do it monthly too. I just keep my receipts and go through my transactions to make sure everything is ok.

By: Jim

Jim — Thu, 20 Aug 2009 16:40:31 +0000

It would take longer if you did it monthly, I’m not advocating that you do it once a month if you already do it once a week (kudos!). This is mostly for people who do it.. ummm…. never.

By: Steven

Steven — Thu, 20 Aug 2009 16:17:32 +0000

Since I purchase almost everything between two credit cards, I usually log in on the weekends to glance at the transactions. First, It helps me look for fraudulent charges before the bill is due. Second, I get an idea of what my spending is like.

To me, doing it monthly seems more like a chore since it would take longer. By doing it more often, it decreases the amount of time I spend each time, so I’m more likely to do it.