Simple Living Series Part 4: My Money


This post is Part 4 of 6 of Simple Living Series. Learn more about the series here.

I used to hate managing finances. It must have been because of years of making a ton of finance trackers or because of my immersion in entrepreneurship that I now appreciate the process. I love trying out different systems for tracking money. I'm currently using Money by Jumsoft for my personal finance (Toshl is a fun app, too.) & check register for my TN. I'm now working with a reliable accounting office that manages my taxes, too.

Here are some more things in my financial game plan: 

  • have a weekly and monthly financial management routine
  • review my bills regularly
  • keep a filing system for my bills, statements & other financial documents
  • use the envelope system for my monthly spending
  • implement a budget framework (for needs, wants and savings) to manage income
  • have an automated deposit system for retirement, savings & emergency funds
  • save 3 to 6 months worth of monthly income as emergency fund
  • help my partner build a college fund for our children
  • never carry a large credit-card balance
  • be comfortable talking about money with my partner
  • feel good about where I’ve invested my money
  • analyze big financial decisions with real calculations
  • pay all my bills on time
  • know how much I need to be minimally financially independent, have a plan to get there and put aside enough money each month to reach it
  • cut down in my spending on things that are not truly important to me
  • experiment on different tactics to save money and weigh its real impact on my finances
  • return any money I borrowed
  • make sure tax returns have been filed & all my taxes have been paid
  • live well, within my means
  • have an excellent medical insurance
  • insure my assets (car, home, possessions, treasures)
  • have a financial plan for the next year
  • keep a track of my online transactions and subscriptions
  • be on a career/business track which is or will soon be rewarding
  • make sure earnings are commensurate with the effort I put into my job
  • check in with my buying patterns
  • practice tithing my income
  • prepare for my end
  • streamline my receipt system
  • make my bills paperless
  • use a portion of my income to invest in my self development
  • view money as beautiful, good, abundant and supportive to me and my family

Stay tuned for the 5th part: My Mind & Spirit!

image: Fabian