To wrap up my Monday Business Practice, I have my weekly Money Date.
My Money Date has 4 quick steps:
- Review Budget & Pay Bills
- Update Mileage Tracker
- Reconcile QuickBooks
- Write 1 page in Money Journal
Your Money Date might look completely different.
It doesn’t matter your steps or which tools you use.
What matters is developing a nourishing practice with your personal & business finances.
Step 1: Review Budget & Pay Bills
Even though I love looking at spreadsheets, it’s important to me to put a lil’ extra time into my budget spreadsheet to make it look extra pretty.
My budget spreadsheet shows my monthly & annual bills. This gives me clarity on how much money I need to make & when.
Since I’ve created intentional space around paying my bills, I’ve been able to adapt a mindset of: “I’m grateful to have the money to pay these bills,” rather than: “Agh! Bills!!”
This mindset reframe has been a mother f’ing game changer.
Step 2: Update Mileage Tracker
Again, I use a spreadsheet to track miles. A spreadsheet is especially helpful as it does the math for me!
I open my Google Calendar to review the previous week & make the below notes in my tracker:
- Where I went
- Who I saw
- Total miles
Including mileage tracking into our Weekly Business Practice makes our end of year tax reporting waaaay easier.
Also – I get to review where I’m spending my time & look at ways to simplify my movements around the city.
Step 3: Reconcile Quickbooks
This step is all about verifying our “actuals,” which means making sure what is entered into QuickBooks (or other bookkeeping tool) matches what the bank says.
With QuickBooks I get to assign each transaction to a category, so I can run reports that tell me exactly how my money was spent.
I then use this cash flow data to adjust my budget accordingly.
Step 4: Write in Money Journal
For the past year or so I’ve been actively exploring my money story, working with questions such as:
- What are my beliefs around money?
- What type of relationship do I have with money?
- What type of relationship do I want to have with money?
These questions have floated around my brain as I’ve read books & researched the concept of a “money story.”
Only recently did I take this Deep Work into my journal.
I’m only a few weeks in, so not quite ready to share data.
But what I do know is: writing it all out is a fabulous way to end my Money Date.
Money practices can bring up all sorts of shit.
It’s ok to go S L O W.
Remember to take breaks & celebrate your wins.
Even a 1st step that might “look easy” (checking your bank account each week) is worth a celebration.
Grab your journal & explore these questions:
- When I think about money, where do I feel it in my body?
- What are my first memories about money?