Here at Single Mum Unhinged, we have talked about dating ourselves and dating others. Its now time to talk about dating your money! Yes You heard me right! It is possible to have such a healthy relationship with money that you can even have a Money Date!
What is a money date?
I know it sound mad right? A money date? Crazy! But its quite simple and not quite as crazy as it sounds! A money date is where you schedule a particular time to sit and go through your budget… hopefully you have had a chance to read my post on How Taking Care Of Your Finances Will Transform Your Life As A Single Mum… if not, read it now!
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Ok so there is a little bit more to it than that. If you have a partner, then you would do this together, but as I have mentioned in my post Date Yourself To Find Yourself, dates are not limited to couples, and doing this alone is so empowering as you are fully in control!
The Idea is that You spend time going through your budget, your bank accounts, savings etc and make sure everything is on track and you are still moving in alignment with your goals.
Remember that everything you do should always be in alignment with your goals! You are in control!
You should make sure that you are sticking within your budget and nothing is amiss. I can’t tell you the amount of times I have had no idea what has been coming out of my account and it has cost me so much in the long run. So doing this regularly will keep you in the know so you can fix any errors quickly.
You need to make sure that this is happy and joyous experience too… I will explain How and Why in the next sections.
Why Do You Need To Have A Money Date?
There are many reasons why you need to start doing this. Some of the main points are:
- To keep track of your goals
- To keep track of your spending
- To check that there are no errors on your accounts
- To educate yourself on your finances
- To nurture a better money mindset
- To ensure your budget is not too strict or out of control
Having a regular money date will increase your awareness and keep you in control of what is going on with your finances and where you need to adjust.
It will keep you educated on what is happening with your finances, and how your decisions and behaviours affect them. I have spoken before about how we are not taught enough as women about personal finance. Having a regular money date that is relaxed and fun, will spur you on to educate yourself more.
If done properly and with the right outlook, it will continue to uplevel your money mindset which will only propel you to prosper further! Which is what we will look into next.
How Do You Have A Money Date?
A Money Date should not be a chore! But, it should be scheduled into the calendar. I would do this once a week especially if you have big goals to reach or you are just starting out with taking back control and budgeting. As this builds momentum and makes sure that you are constantly on top of of things.
I personally do this every Friday.
Money should feel exciting (with the right mindset!) So on a Friday evening I pour my glass of wine, light my candles (of course!) and spend half an hour checking that everything is in order.
As long as you have already created your Fool Proof Budget, it really wont take up much of your time once a week.
I look at my income and check it is correct, make sure that all bills have gone out at the right time and for the right amount and I check any purchases that have been made are within the budget.
I then have a look at my savings and investment accounts to make sure they are growing as expected.
If all is well then that’s it. Simple. But occasionally something has gone awry and I need to make an adjustment or a phone call. But generally by doing this every week, things are mostly on track!
The most important thing that you need to remember is to always keep it happy and joyful. and stay in a state of gratitude! By doing this you will uplevel your money mindset and become Unstoppable!!!
Comments
7 responses to “Having A Regular Money Date Will Transform Your Money Mindset”
Money dates are so important when it comes to single mom money. A regular money routine is essential when managing money on one income.
I am hearing about money date for the first time, but I love the concept behind it. Thanks for introducing me to this!
I agree entirely. I do keep a close eye on my finances, but it is a chore. Love the idea of turning it into an enjoyable date!
Great advice
Dating my money sounds great if I date it alone!
Yes such a good practice to have! Thanks for sharing this info.
Great post- I have a money date with Chase’s Budget + Spending tool at least once a week. The goal is to keep the income higher than the expenses.