It took me a long time to
work out how to stay on top of my finances. After a lot of trial
and error, I developed the habit of doing a monthly financial
review. This is what enables me to confidently manage my finances
without having to think about money all the time. In this episode,
I explain how you can implement your own monthly financial review.
Topics covered include:
Habits to set up when implementing a monthly review, including
dedicating adequate time (about 4 hours per month) and making a
detailed checklist or task list to use.
Key questions to consider when designing your monthly financial
review system, such as whether to use an online finance app or one
that runs on your own computer.
Stages of the monthly financial review to implement:
downloading finance data, cleaning data, inputting data,
reconciling, and analysis (budget, investments, and net worth