Is it just me, or do these words give you a sense of “Blah…”
It’s not a glamorous topic. And, from the first twenty episodes of the podcast, talking to other people, and intense study…guess what?
There way more than just one way to keep track of it all.
You could do it that guy’s way, or you could have spreadsheet heaven…(Note: we’ve talked about spreadsheets before, haven’t we? Sure, they are an excellent tool for organization and line management of purchases…but the truth of it is: I hate ’em. They bore me. To complete tears. In fact, the worst business meetings I’ve been involved with have been along the theme of, “Show me the spreadsheets where we are losing revenue…” Ugh. I’m internally puking just thinking about that.) Okay, back to the post.
That’s why I’m declaring this a safe space. It’s a veritable “No spreadsheet zone!”
But, Amy…Seriously Girl, how do you expect to ever keep track?
Great question! I’ve thought a lot about this. I’ve been discussing this with my husband for months now and we decided to do something different. Something that will work – for my mind, and our bank accounts to create long-term success.
But first, some back story. I saw a video of a guy trying to determine how to manage his money.
The best money management system is the one that works for YOU.
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Seriously. That’s it!
Think about how overly-complicated we make this. It’s ridiculous!
That means if your money management system is a pen and a tiny notebook to track your spending until you figure out where your money is going: That’s the BEST. For you.
If your money management systems requires additional time to scour the ads, cut the coupons, and make sure you are spending the very minimum necessary to live right now: That’s the BEST. For you.
If your money management system is sitting down, talking it out with your spouse while balancing the checkbook to make sure you are right on track: That’s the BEST. For you.
If your money management system is you trying to balance the checkbook while your spouse is kicking back on the couch…hmmm, this very well could be the BEST. For you.
If your money management system needs spreadsheets and graphs to keep you organized so you can see the trends and projected growth of investments: That’s the BEST. For you.
Who is the expert that said we all have to do it exactly the same way? Who determines if we need this card and that card, if we need 2 savings accounts or 7? Which credit bureau says 3 credit cards are more influential than others?
You know what? They are wrong. They don’t know you. They have no idea how your mind works.
But, if I may, perhaps they are not the problem at all.
You don’t know you. You’re not sure what your money management system is…yet.
I had to try this system and that to understand that my mind doesn’t want the money management systems to be so complicated.
I crave simple.
I crave this or that.
I don’t want to have to evaluate complicated systems to decide if I can afford another new book this week.
So guess what we did? We MADE it simple. For me. For him.
We are on the same page. I don’t have wonder if I just overspent in one category and watch him skip going to lunch with the guys so we can cover our expenses.
Aaaaah, the peace that brings.
Know what we did?
Just opened the right number of accounts. One account for groceries. One for gas. One for Mom’s spending money. One for restaurants. One for the monthly expenses. Every month we put it the exact amount of money we have determined we will spend on each.
And I am sticking to it. I’m not pulling from one account to make it work.
I now carry a few debit cards.
I can look at our online account labeled, “Groceries,” and know the exact amount of what we have left for the month.
If I think that there’s more money left, when I look at all the transactions they go to the same few locations. I know how much I spend on our transaction.
I now have simple.
If this is a system that you can make work for you day in and out, then use it. If this is the system to help you get out of debt and then you’ll change it later. Use it.
Just own your decision. You work too hard for your money. Don’t squander it away or lose it due to lack of organization.
Make it your own. Make it simple. Make your money work.
That’s the best money advice I could give anyone.
Tell me now, what’s one way you have simplified your money management system so that it works for you?