How To Stay Consistent With Budgeting When You Keep Falling Off

Today, I want to share a game-changing practice that has transformed my budgeting journey – the weekly money date. Don’t let the name fool you; it’s not as glamorous as it sounds, but the impact it has on your financial well-being is nothing short of extraordinary. I didn’t create this concept, I learned it on one of the many finance podcasts I listen to.

Why A Money Date?

When I first started budgeting, I struggled to keep up with daily spending tracking. Imagine having to go and update an excel spreadsheet on a daily basis with everything you spent??? I just couldn’t do it. After that, I switched to the polar opposite which was monthly updates. Once a month I would attempt to go through all my transactions and put them in the budget. This didn’t work because it was also overwhelming given the number of transactions, most times I had forgotten about what some purchases even were, and I had likely gone over my budget at that point already so it felt useless. This led me to just giving up on tracking all together.

The breakthrough came in 2023 when I established a weekly money date routine. This not only streamlined my budgeting process but also kept me accountable and in control of my finances.

The 7 Step Money Date Guide

1. Schedule It In: Treat your money date like a crucial appointment – put it in your calendar as a non-negotiable commitment to your financial well-being. I chose Sundays because this is a reset day for me, but choose a day that works for your schedule. You know yourself best.
   
2. Create a Cozy Atmosphere: Enhance the experience by getting comfortable with your favourite drink and snack. This isn’t about stressing over numbers; it’s about making the process enjoyable.
   
3. Set the Vibe: Play your favourite podcast or artist to create a positive and motivating atmosphere. Again, this isn’t just about numbers; it’s about creating a space that makes financial reflection a pleasant ritual.
   
4. Dive Into Transactions: Open up your credit card apps and categorize transactions. This step ensures you’re aware of where your money is going and allows for a quick assessment of your spending habits. I use multiple credit cards so I open each one of them and go through them one by one. Groceries +$120, Uber Eats, +$49.95, Gas +$20, and I go from there.
   
5. Review Weekly Income: Check your bank account for the income that came in during the week. This step provides a clear picture of your financial inflow and sets the stage for future planning. I have multiple bank accounts but only get paid into one, so it’s easy for me to see how much came in that week. I also account for any refunds that I received, or bonuses from referring people to my bank. Btw, here are some banks you should check out.
   
6. Manage Auto-Transfers: This may be extra, but I like to confirm that my auto-transfers are handling my savings and investments seamlessly. One day I may let go of that control, but until then…lol. Automation is your ally in building a secure financial future without the hassle.
   
7. Accountability Group Check-In: Share your transactions with an accountability group. I have a group of over 150 people who I check in with monthly, but you can do this with a few of your trusted friends. This not only adds a social element to your financial routine, but also fosters a supportive community that encourages responsible financial habits. I also like to track my progress, so I check off how much progress I’ve made towards my goal in my savings plan template.

There you have it! In just 30 minutes a week, this routine has become my financial anchor. The beauty lies in its simplicity and effectiveness. Remember, this frequency may not work for you and that’s okay.

Now, I want to hear from you! What’s your financial routine, and do you have a money date practice? Share your thoughts below, and don’t forget to grab my free savings plan here 💰🚀