Ever wondered how an ex-financial adviser manages their money? Or how much time goes into it?
Well… I spend less than an hour a month on my personal finances.
That’s it.
On the first day of each new month, I have a little meeting with myself. I block an hour in my calendar (a recurring appointment) and use the time to look at my numbers. It usually takes under 60 minutes, however I’ve set that time aside to do whatever I need to do.
It goes like this:
- Open my personal finances google sheet.
- Update the balance of every asset (I don’t personally have any debt).
- Review the email I get from my financial adviser, Keryn Batsilas, as to any updates she recommends. Reply.
- Make any bank transfers or bill payments (usually there’s nothing to do here as I’ve got everything automated).
- Spend a moment thinking about what the last month has meant overall (has my financial position gone up, or down) and if there’re any changes I need to make to my spending, or any funds I might want to move.
- Get on with my life.
It really is that straight forward, and the key is just spending that little bit of time with myself to review and reflect.
Of course, initially I did set up a financial plan (years ago), however now I just maintain and adjust as needed.
The simple act of putting this time aside means nothing ever slips, and I catch myself before I go too far down any particular path of poor spending habits.
I truly believe this monthly check-in process will positively change your financial future.
Even if you do nothing else, and don’t have a proper financial plan in place.
If you only do one thing.
Do this.
Set aside an hour on the first of each month and update the values of your assets and debts. Just looking at your financial position regularly is going to result in an increase in your wealth over time.
Where focus goes, energy flows.
Here’s the template, make a copy and start doing this one small thing for yourself today.
