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TIMING MATTERS

  • Writer: Treavor Dodsworth CFP®, CPA, CKA®
    Treavor Dodsworth CFP®, CPA, CKA®
  • Jul 25
  • 1 min read

I recently switched into tracking our personal expenditures every Friday. Below are a few reasons why:


Dollars In Your Pocket

  1. I am one of those odd individuals that really enjoys tracking personal spending. A weekly cadence is something I enjoy and allows me to stay on top of it. I may have 5-10 transactions to enter instead of 30-40 if I did it once a month.

  2. A weekly cadence keeps it top of mind. It is easy to simply forget what your budget is or what the cash flow goal is for the month. "What gets measured gets improved."- a quote frequently attributed to Peter Drucker (there is some debate on quote origin).

  3. Our personal spending kryptonite is the category "Misc." This is where most online and big box store purchases flow. Our "Misc" spending is dramatically higher on the weekends (when I am off work). Tracking spending on Friday keeps those cash flow goals top of mind as you head into the weekend (where I traditionally spend more).


Weekly on Friday makes the most sense logistically for me personally. I encourage you to find a regular time each week or every couple of weeks that can be almost or actually scheduled in to your calendar. Do it often enough that it is just becomes a habit.


I have seen the simple practice of regularly tracking personal expenditures improve cash flow. This allows more financial margin to be applied to financial goals.


 
 

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