Big Picture Know Your Accounting Strengths and Weaknesses

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Address overspending or no-budget spending behaviors by leveraging your strengths.

What You'll Need

  • Online Bank Account AccessSpreadsheetBlank Word Document (or other note-taking location)
  • Calendar Understanding of Payments into the Account (if any)

What You'll Do

  • 1. Identify and accept there is a problem. Overspending or understanding (on x, by y). 2. Look at previous financial history last 3 Q and/or year if applicable. 3. I am never going to be able to do my financials in detail. Instead I leverage my ability to grasp the bigger picture and call out any interesting themes (always in color). i.e. I take more Taxis if I do not get enough sleep and overcommit myself. i.e. I spend more on food when I do not go grocery shopping than when I do a weekly or bi-weekly grocery shop.
  • 4. Create a really simple system that works for you. I.e. I get paid bi-monthly. I pay my salary into my savings and transfer my monthly budget (including rent and other fixed costs) from savings into spending account. That is all I can use per month. 5. Don’t think of savings as retirement money or a guilty commitment. Think of savings as for something. Savings for a great vacation to x. Savings for an awesome y. Making savings specific makes saving more fun. 6. Set a goal. I.e. reduce spending by 25% by cutting taxis.

Tips & Warnings

  • Debt is not cool. Bankruptcy neither. Part of having money is learning how to use it but try to do so in limits and ask for help when you feel it could help. Don’t be ashamed to ask! We are all just trying to figure (or appear to have figured) it out.
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