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Episode: 275 - Five Simple Daily Habits to Simplify Your Money Management

Managing your money doesn't have to feel overwhelming. By integrating a few simple daily habits into your routine, you can take control, reduce stress, and work toward financial success. These five daily tasks are easy to implement but can have a major impact on your long-term financial health. Let’s break down these effective habits to keep your money management on track. 

 

 

 

  1. Track Your Spending 

It all begins with tracking your spending. While this might sound tedious, it's vital. If you're not sure where your money is going, it's difficult to manage it effectively. Think of it like driving without a speedometer—you’re just guessing. Each day, take a few minutes to note down all your purchases, whether it's coffee, groceries, or online purchases. Use budgeting apps, a simple spreadsheet, or even a note-taking app on your phone. 

By staying on top of your spending in real-time, you’ll avoid those "where did all my money go?" moments at the end of the month. A pro tip is to set a daily reminder to log your expenses. Before long, this will become a routine habit that you won’t even have to think twice about. 

  1. Check Your Bank Accounts  

A quick daily review of your bank, credit card, and digital accounts (like PayPal or Venmo) can make a big difference. It helps catch any unusual charges early and ensures you're not surprised by fees or unintentional expenses. 

Knowing your account balances at all times provides peace of mind and can help you steer clear of overdraft fees or missed payments. Keep an eye out for any old subscriptions that may still be charging you. Canceling unnecessary services can immediately free up extra cash. 

  1. Adjust Your Spending  

After reviewing your expenses and accounts, it's a good time to evaluate your spending. Are there areas where you're overspending? Does your spending align with your goals? If you're spending more than planned—perhaps on dining out—you might decide to cook at home more often. 

These small daily check-ins allow for real-time adjustments, preventing any surprises at the end of the month. Flexibility is key, so if something unexpected comes up, you'll know where to trim back. 

  1.  Review your Monthly Budget Along with your Goals 

Budgets aren't meant to be restrictive—they’re your financial game plan. Daily check-ins ensure you're sticking to your limits in categories like groceries, entertainment, and transportation. 

This practice helps you stay ahead of any potential issues, making it less likely you’ll exceed your budget halfway through the month. Think of your budget as a guide that keeps your money working for you every day. 

  1.  Look Ahead at Future Spending 

Taking a few minutes each day to look ahead can help avoid future financial stress. Consider any upcoming non-routine expenses like birthdays, vacations, or medical bills. 

Planning ahead means you're less likely to need credit cards to cover these costs and can avoid financial surprises. With a little foresight, you'll be able to use cash rather than scrambling at the last minute. 

Conclusion 

These five simple daily habits can help you stay in control of your finances and reach your financial goals. Let’s recap: 

  • Track your spending. 
  • Check your bank account. 
  • Adjust your spending. 
  • Review your monthly budget daily along with your goals. 
  • Look ahead at future spending. 

These tasks take just a few minutes each day but can make a significant difference in your money management. The more consistently you practice these habits, the easier it becomes to stay in control of your finances and avoid debt. Why not start today? 

For more tips and guidance on taking charge of your finances, visit DebtFreeDad.com. Just click the green button at the top of the page to discover how you can see results in as little as 30 to 60 days. 

Thanks for tuning in, and stay connected for more practical tips on managing your money effectively. See you next time! 

 

Resources Mentioned
Get better results with your finances in 30-60 days - GUARANTEED. Watch this video to learn how! - https://www.debtfreedad.com/payoff-debt-in-60-to-90-days 

Free Tools and Downloads at www.debtfreedad.com

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Transcript:

Brad Nelson: 0:00
Hey. So today, guys, we are going to be talking about a super simple yet powerful habit that you can build right into your daily routine. I call them the five daily financial to do's. These are going to help you stay on track, reduce a lot of stress and help you take better control of your finances. Now welcome to today's show, guys. I am Brad Nelson, founder of Debt Free Debt. I paid off about forty five thousand dollars of debt, have been debt free now for more than 11 years, outside of my mortgage. I've also been fortunate to help thousands of other people save and pay off tens of millions of dollars with the work that we do here at Debt Free Debt.

Brad Nelson: 0:35
Now, after listening to this episode, if you want to take your finances a step further, want to get better results with saving money, getting out of debt and even start seeing results in as little as 30 to 60 days, I'm going to be sharing some details about how you can get started with that a little later on in today's show. Now, if you're serious about getting control of your finances, these daily tasks can make all the difference in reaching your goals. Now, it might sound like a lot to do every single day, but trust me, these are going to be quick, easy tasks that you can take just a few minutes each day, but they're going to have a huge impact on your financial life over time. So let's dive in Now. The first one is you want to get in the habit of tracking your expenses every day, and this is the most important task, I would say, out of all five of these. Now, I know it can feel tedious, but think of it this way If you don't know where your money is going, how the heck are you going to be able to control it? It's like driving a car without a speedometer You're just guessing how fast you're going right. Now, each day, make it a point to write down everything you've spent money on, whether it's on your coffee runs, groceries or maybe some quick online purchases. You can even use apps like things like YNAB or a lot of these budgeting, or even spreadsheets, or even some of the note apps on your phone to track your spending. Now, by staying aware of your spending in real time, you're going to avoid those how did I spend so much money this month moments in your monthly budget. Now, here's a bonus tip as well Set a reminder on your phone for the same time each day to do this, and it'll become something that will be habitual, that you will do every single day.

Brad Nelson: 2:06
Now, number two is review your bank accounts and your spending accounts daily. All right, this is so important. This is a quick but important step. So log into your checking your savings accounts, any credit card accounts and even digital wallets things like PayPal, venmo Cash App, apple Pay. However, you're spending money and by doing this daily, you're going to stay on top of any suspicious charges, obviously, and ensure that no surprise fees or unintentional charges slip through the cracks. Plus, it's going to give you a lot of peace of mind knowing exactly how much money you have available to you at all times. Now, this is also going to help you avoid overdraft fees or missing payments, because you'll always have a clear picture of your account balances on a daily basis. Just an extra tip here make sure you're checking for those reoccurring charges that you might not be aware of that you've signed up for over the years. You can cancel those right away and save yourself a ton of cash.

Brad Nelson: 2:59
Now, number three on the list is to adjust your spending. Question your spending every day. Now, after tracking those expenses and reviewing your accounts. Ask yourself am I overspending in certain categories or is my spending helping me reach the goals that I have in my life? If you're spending more than you intended say on eating out, for example, you know what? Maybe you'll decide to cook at home a little bit more next month once you see the true numbers of what you're actually spending Now. This small daily check-in with yourself allows you to make real-time adjustments every single day, instead of getting blindsided at the end of the month or not even knowing at all what you're spending your money on. So you can shift your priorities daily and keep your finances balanced, rather than waiting for a monthly review. Now remember here flexibility is key. If something comes up, make sure you're aware of how to shift spending and other areas to compensate. Which brings us to number four, because it's going to be easy to shift if you have a budget and you're reviewing it every single day.

Brad Nelson: 3:59
So fourth on the list is review your budget Now. I know budget can sometimes sound like it's a restrictive word, but it's really your roadmap to financial success. So each day, check your spending against your budget. Are you staying within your grocery limit for the week? How about entertainment or transportation needs? This daily review helps you stay proactive rather than reactive. Plus, it helps prevent a lot of those moments when you suddenly realize that you've blown your entire budget halfway through the month. So think of your budget like a daily guide. It's not just about restriction, but about making sure that your money works for you. And that brings us to finally, number five.

Brad Nelson: 4:42
So important guys, look ahead at your future spending. This is where a little planning can save you a lot of financial stress in the future. So take a few minutes each day to think about any upcoming expenses that might not be a part of your regular routine. Are there birthdays coming up, vacations, holidays coming up? Maybe you have a car repair or a medical bill that's going to be due? Looking ahead at future expenses gives you time to plan and adjust accordingly. You'll know what's coming up and you're not going to be due. Looking ahead at future expenses gives you time to plan and adjust accordingly. You'll know what's coming up and you're not gonna be caught off guard, which makes it a lot less stressful. And, more importantly, you won't have to rely on credit to cover up unexpected costs, because with a budget, you'll plan to pay cash. See, when you plan ahead, you avoid those last minute panic moments where you're scrambling to cover this next unexpected big bill. So, remember, staying aware of what's on the horizon helps you avoid financial surprises and maintain a lot of control over your money. And, guys, it's going to take again so much stress out of managing your finances over time. And so there you have it.

Brad Nelson: 5:40
Today, guys, these five simple daily to-dos that can keep you on top of your finances and help you achieve your financial goals are so simple to implement. Number one, again, was track your expenses. Number two review your bank account and your spending accounts on a regular basis. Number three every day, question your spending. Is my spending helping me reach the goals that I have in my financial life? Number four review that budget every single day, especially to stay on track and to stay away from all these shiny objects that are gonna tempt you to spend your money. And number five look ahead at that future spending so you can stay out of debt, use less debt and pay cash and have less stress.

Brad Nelson: 6:18
Now remember, guys, these tasks take just a few minutes each day, but they can make a world of difference in how you manage your money. Now, the but they can make a world of difference in how you manage your money Now. The more consistent you are, the easier it becomes to control your finances and avoid a lot of unnecessary debt. So why not start today? Now, guys, if you want to pay off debt, save more money and take control of your finances, and maybe you're struggling on where to get started, I'm going to give you an awesome resource that can show you how to start getting better results in just the next 30 to 60 days. All you, how to start getting better results in just the next 30 to 60 days. All you have to do is head over to debtfreedadcom, click on the green button at the top of the page and I'm gonna show you how you can get started. Thanks for joining us on today's show and we will see you, guys, on the next episode. Take care.

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