Daily Financial Check-Up

You wake up, brush your teeth, eat breakfast, get ready for work/school. These are all a part of your daily routine. What if there were something that you could do that wouldn't take any more than 5 minutes of your morning routine, that would help you be organized with your finances and could
possibly save you some money?

I do a daily financial check-up every morning. I reconcile our spending plan with our online bank statement before I head off to work. This enables me to make sure that there is enough money in the bank to pay for any upcoming bills that are made via automatic payment and to ensure that I pay any obligations that are not taken out automatically.



How this saves me money
1. Making sure there is enough money for auto payments helps to reduce any overdrafts and the high fees associated with them.

2. Paying our bills on time helps us avoid any late payments and the charges that come with not paying on time.

3. Another way that this practice can help you save money is that by regularly reconciling your bank statement you will be able to notice any unauthorized charges. For example, a couple weeks ago I noticed that I was double charged a bank fee for my bank card. It may have only been $3.00 but that's $3.00 that belonged to me and not the bank. I quickly contacted the bank and they reversed the charge because it was their error. However, if I didn't call them they would not have reversed the charge on their own and I would have been out of $3.00.

You can adjust the way you do a Daily Financial Check-up to fit your personal financial situation. Anything that helps you be aware of your current financial situation would qualify as a Financial Check-up. Being up to date and aware regarding your personal finances helps you stay on top of things, let's you understand where you need to go to reach any financial goals, and can reduce stress related to your finances.