Having monthly systems and routines is one of the best things you can do to set your family (and yourself!) up for success. It gives you a place to start, keeps you on track, and adds a sense of familiarity to each month, no matter how busy or hectic things may become. This week, we asked the ladies in our Simplicity Series what monthly routines they have for their families to help manage their finances each month. Here’s what they said:
“There are no routines, per say. We just have limits that keep us from making unnecessary purchases and agreeing on what we do with the actual money we DO make (most of which goes towards bills or savings).” – Lacoya Heggie, wife, mama, and founder of Hello Love Events
“We start with a monthly “finance meeting” to discuss how/if the budget worked that month. These meetings may be hard and filled with tears and potential arguments at first, but as you begin to set and reach goals together as a team it gets easier to work together and not against each other.” – Shay Cochrane, wife, mama to two sweet girls, and photographer extraordinaire
“We both keep a running list of budget needs we should discuss in our meeting. And, as I mentioned before, we meet at the beginning of each month to set the budget. Once I have everything plugged into our Mint account, I update and track it each week and keep Luke informed of budgets that are coming close or exceeding our limit, and we adjust accordingly.” – Beth Gebhard, wife, mama to 2, and co-founder of Choice Media and Communications
“We calendar any monthly bills and have them auto-withdrawn on the same days each month. We have a grocery budget and a fun (dinners out, trips, etc) each month. We are currently renovating our home so we have to be careful, but we are also newlyweds and want to have some money in savings. So it is certainly a juggling act – one we have to revisit every single month to stay on track.” – Kerry Gardner, wife, dog mama, and publicist extraordinaire
“Every month, before the month begins, Winston and I sit down and list our income and expenses. We spend every dollar, on purpose. A budget isn’t about complicating your life. It’s about knowing where your money is going, and that will make your life a whole lot easier!” – Rachel Cruze, wife, mama, author, and finance guru
“Have a set time each week that you check in with your family to talk about your schedules and your budget. For my husband and I, it’s Sunday night. We have Sunday night dinner, hang out on the couch and talk about the week ahead. This gives us a set time to connect and make sure we are putting our time and money toward our most important priorities.” – Christy Wright, wife, boy mama, speaker, and author of Business Boutique
“A monthly Adams family budget meeting (just Matt and me) before we get paid is critical to our success. It allows us to plan well and spend every dollar before it gets in our account. I also set aside two specific days a month to pay bills online. We both get paid twice a month, so I plan to make payments around those dates. And I treat that just like a meeting on my calendar.” – Heather Adams, wife, mama, and co-founder of Choice Media and Comunications