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Devon Richards

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Making Moves: Benefits of Monthly Financial Planning

29 Feb

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Recently, I started tracking my finances so that I could get down to the nitty-gritty with my financial goals.

A colleague recently told me about a planner called The Ultimate Life Binder from the Secret Owl Society where you can download useful printables for planning your day, month, projects, wardrobe, and finances. I particularly love the financial aspect of this because it really holds me accountable for what I’m spending and how much I’m bringing in.

I use the following printables from the The Ultimate Life Binder to track my finances:

1. My Budget

Secret Owl Society - Ultimate Life Binder- My Budget

2. My Money Opportunities

Secret Owl Society - Ultimate Life Binder - My Money Opportunity

3. Bill Payment Checklist

Secret Owl Society - Ultimate Life Binder - Bill Payment Checklist

4. Income Tracker

Secret Owl Society - Ultimate Life Binder - Income Tracker

5. Expense Tracker

Secret Owl Society - Ultimate Life Binder - Expense Tracker

Since I’ve started tracking, I’ve experienced many benefits, including a new-found excitement for my finances.

What you will get out of financial planning:

  • Organization – I am so much more organized now that I have these convenient charts.
  • Awareness of Spending – I can now see very clearly exactly where my money is going and how I can adjust my budget accordingly. The Expense Tracker is extra useful in this sense because it asks if your recent expense is a “need” or a “want” so you can quickly see how much of your purchases are frivolous.
  • Goal Setting – It’s very helpful setting financial goals so that you can start planning for your future “big ticket” items like a wedding, buying a home, or starting a family. However, it’s also helpful for smaller goals like buying an engagement present, planning a birthday party, having an adventure, and so on.
  • Monthly Budgeting – Estimating how much money you will make, and how much you can spend for the month will help you reach your financial goals more quickly.
  • Relieve Stress – Having done all of this for a month, I already feel like a weight has been lifted off of my shoulders. I no longer have these financial cans and can’ts floating around in my head. It’s all clearly laid out in my charts, which I’ve conveniently taped onto the walls above my desk.  Less stress equals more time for you!

For different ways to make extra money, read this post from the Making Sense of Cents blog.

Start planning and let me know how it goes!

Categories:
Health, Lifestyle
Tags:
Financial Success, Goals, Lifestyle, Mental Health

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About Me

Hi everyone! My name is Devon. I created this cozy little space on the internet where I could connect with you all and talk about the things I’m most passionate about, like health, natural beauty, style, home décor, and spreading kindness.

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