The Importance Of Having Regular Budget Check-Ins

Budgeting your money is one of the most important things you can do as an adult. Money is such a crucial part of how we are able to live our lives, knowing where it is going it key. However, just as our lives change being an adult, so should your budget. This is why you should never leave your budget on auto-pilot or expect it to continue to work for you indefinitely without your assistance.

Checking In For Yourself

When you are budgeting by yourself, you are the only one you have to answer to. Telling your money where to go can be easy because you are the only one providing input. However, this also means to have to be vigilant in knowing all of the ins and outs of your expenses and income. When I was still managing my money alone (pre-marriage) I kept a vert tight ship. It was easy to manage my bills because it was just me making them. It was also easy because I was young, and I didn’t have a mortgage, utilities, car payments, etc. I had my phone bill, gas, car insurance, and some school stuff. Life was simpler, but it was up to me to be checking things constantly to ensure everything was kept up to date as my life changed.

Checking In For Your Family

Yes, many of us will at one point or another take on the responsibility of having a family. You are no longer working as a single person, but rather as a single unit (or you should be). Having more than one person sharing expenses adds an extra layer of difficulty. In addition, you both will likely begin to add other expenses such as mortgages, kids, and other loans. These will soon begin to add up. You both will need to have regular check-ins or budget meetings to ensure you are keeping up with the changes your family is going through.

Lack Of Effort Will Result In Trouble

When you begin to neglect the check-ins or budget meetings, you will soon start to feel the negative results. Money will begin to be tighter, and you will likely start to see an increase in potential credit card debt. These things are the sad results of not maintaining your money like you should. It will only compound when you are in a family unit with more than one of you spending money. Unfortunately, this is one of the reasons so many of the people I have worked with over the years have ended up in huge debt. It doesn’t take much to go down this negative path.

Take The Time

Take the time to make an effort for yourself and family. At the end of the day, you are the only one who will be able to make positive changes in your financial lives. It can be harder to make the decision to be smart about your money, but it will make your life much easier in the long wrong.