Feeling Out of Touch with Finances
How often do you balance your checkbook and check on bills?
The routine that I typically use is to call our “bank-by-phone” number or log into our online account once per week to do a checkup on all of the debits that have been made and the checks that have cleared.
When our monthly banking statement arrives, I do a quick verification of all the data and finalize the balances. While this may seem like a fair amount of work, I’ve got it down to a nice routine and it works very well for me.
Out of Touch
Over the last few weeks, we have had a lot of things going on at home and I’ve been very busy with work. We’ve finally had the window replacement completed and then ordered new blinds. The blinds arrived and were installed last week so things are finally starting to settle down on that front.
With everything that has been keeping my occupied, I haven’t been following my regular routine of the weekly balancing and it has left me feeling a little bit out of touch with everything.
In addition to not following my routine, I have noticed that my filing system of incoming bills and bills that have been paid has also taken a turn for the worse. Right now my desk has a large pile of papers that need to be addressed, although all of the payments have been scheduled so I just need to clean up the paperwork.
Build Strong Habits
This experience over the last few weeks has demonstrated to me the importance of creating habits for yourself. If you fly by the seat of your pants, I feel that it is much easier to ignore things too long and get yourself into trouble with late payments or overdraft fees if you’re not careful. While I know that might work okay for some people, I now know that it does not suit my personality.
By maintaining my routine, I have developed a keen sense of knowing what our balances are at any time and how upcoming bills will impact our available funds. Without these habits I am sure we would have a more difficult time given that we follow a fairly loose spending plan.
Have you found that you need to stick to a routine in order to maintain your comfort level? Or do you find that you work better with a more relaxed approach?