219 How To Do A Monthly Financial Review

It took me a long time to work out how to stay on top of my finances. After a lot of trial and error, I developed the habit of doing a monthly financial review. This is what enables me to confidently manage my finances without having to think about money all the time. In this episode, I explain how you can implement your own monthly financial review. Topics covered include: Habits to set up when implementing a monthly review, including dedicating adequate time (about 4 hours per month) and making a detailed checklist or task list to use. Key questions to consider when designing your monthly financial review system, such as whether to use an online finance app or one that runs on your own computer. Stages of the monthly financial review to implement: downloading finance data, cleaning data, inputting data, reconciling, and analysis (budget, investments, and net worth calculation) Show Notes: Some software options for your checklist: Evernote and Omnifocus  Some finance apps: iBank, Mint, Personal Capital Software for automating renaming and moving of files: Hazel TVL Episode 181 on budgeting and net worth calculation