Money Dates: What is it + why you should have them

Talks about money? That’s not something everyone gets excited about for sure, but if we want to live a financially secure life, you have to go on regularly scheduled money dates with yourself (and/or partner).

What are Money Dates?

Money dates are special regularly scheduled dates you have with yourself (and/or your partner) to reflect on your finances. It’s a time that you are able to address what is working and what isn’t, congratulate yourself on the progress you’ve made, and reset or adjust your financial goals. Not to mention that it gives you quality time with yourself!

Now, let’s be honest — it doesn’t always feel exciting to sit down and review financial accounts. However, I’m here to provide you with some tips to help make your next money date purposeful and fun! The process can be more fun, educational, productive, and impactful.

Also Read: 5 Ways to Practice Financial Self Care

1.    Schedule these as recurring events in your calendar/planner 

Scheduling your money dates beforehand every month will help make sure you don’t skip it! Try to schedule it at the same time every month to help with consistency. (I usually have them at the end of the month when I’m closing out my budget. That way I review my current budget and if I need to make any adjustments for the next month, I make those changes right then.)

2.    Make Your Money Dates FUN!

Take the pressure off by making your money dates fun! Plan it in a way that it’s exciting and you actually look forward to having it instead of dreading it. So order your favorite takeout, and have some wine or your favorite drink ready. (I typically like to have some wine with either Pad Thai or General Tso chicken.) Trust me when I say, a money date is another way to invest in self-care.

3.    Have a Mini Itinerary on What You’ll be Reviewing

Plan, plan, plan; an itinerary will keep your money date on track. For example, you’ll need to review your bank & credit card statements, you’ll also need to check your monthly budget if it’s updated frequently.

You need to do this to check for any discrepancies and to make sure your spending is aligned with your values and financial goals. If something’s off, adjust accordingly, this is how to take care of your money. (I look at my bank accounts + credit card transactions frequently and update my budget right then which makes this a bit easier).

[If your budgeting method is not working for you, look at other types of budgeting methods to see if there is a better one suited for you.] 

4.    Track your Financial Progress

Make it a norm to track your progress towards your financial goals on your money dates -whether that’s paying off debts, savings, and/or investing progress. Seeing an actual number towards your progress would help you mentally and keep you highly motivated!

5.    End Your money dates on a positive note; celebrate what went well 

End your money date with a blast! Make sure you celebrate what went well that month and how much closer you are to reaching one or more of your financial goals!

Now that you know the importance of these money dates and how to make them purposeful and fun, start scheduling them!

Start to have weekly or monthly money dates with yourself (or with your partner). Remember, when you make money dates a habit, you’ll have the power to build a stable financial future and achieve your money goals sooner than later.

If you feel that you need 1:1 support to help you get your finances right, schedule your free 15 minute discovery call so that we can discuss your situation and financial goals.

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