Step 4: Your Weekly Habits

Now that you’ve begun recording your receipts, you also need to check them against your bank records.For every account you have, you want to download a csv file of your transactions for the past week. If you have a WaveApps account you can upload the file or you can have your bank transactions imported directly into your account. You then will want to categorize each transaction and verify them against your receipts.

If you don’t have or don’t use Wave, you can simply download, sort, categorize and total your transactions for the week just like we did in step one.

You should also compare your spending against your money plan (I’m not using the word budget). How are you doing so far? Are you on track or do you need to practice some more? Don’t beat yourself up if you made a mistake. Just start from where you left off and perhaps you need to adjust your budget to allow more spending in a certain area. Many people don’t set aside enough for food while putting more into a category they don’t do much spending in.

The purpose of the weekly check-ins is for you to not only see your spending patterns so that you can adjust, but to keep this process limited to a short amount of time. Would you rather spend 15 minutes a week or a couple of hours or more in one day every month?

So, get started on reviewing your weekly transactions, keep your receipts and adapt your budget to make sure that you’re spending money only on the things that matter:
basic needs, savings, fun and debt.

Are you on the list to get your free copy of Keep the Fun, Plan for the Future?

If not, there is still time before the August 21st deadline.  Get on the list and get an instant copy of the introduction here.

 

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