Around two years ago, I started to learn about personal finance and money management. Someone I love introduced me to some of the core concepts of managing money. After that moment, I kept finding and attracting more opportunities to learn about (and practice!) having a healthy relationship with my money.
At one point in my journey, I found myself overwhelmed by… well… everything in life. It just felt like there was so much I wanted to focus on, keep track of, or prioritize in some way. So I broke it down and made a system. I decided to dedicate a theme, a focus, to each day of the week, Monday through Sunday. I basically made hashtags for myself (#moneymonday). With that theme in mind for the designated day, I prioritize and focus my energy on some of the good habits I wanted to cultivate. That’s where Money Mondays started.
So I thought, “Great! On Mondays, I’m gonna learn about money!” But I soon realized I needed to make my Money Mondays a little more strategic, a little more… tangible and actionable. Here’s what a typical Money Monday looks like for me:
- I review all of my financial accounts (checking account, savings account, sinking funds, credit card accounts, investments, all that jazz). I get a clear picture of how much money I have and how much I spent this past week. And it might be the Virgo in me, but yes, I have a spreadsheet to keep track of all this.
- I look at last week’s purchases and ask myself about how those purchases served me. I try not to judge myself if I had a few frivolous buys in the week. I just take note of what drove me to make that purchase, the “why” or feelings behind it, and think about how I can better serve that drive in the future. For example, if I order Uber Eats instead of cooking it might be out of convenience or because I wanted to try something different for dinner. And that’s okay sometimes. But to not make it a habit, I could look for ways to make dinner more convenient and easy for me regularly (like batch-cooking!).
- Lastly, I consume some form of financial education. I follow personal finance experts, read books, and/or listen to podcasts related to my money goals and interests.
This system helps me prioritize good habits all throughout the week, but at the very least, it ensures that I spend at least one day each week enhancing my financial future. Money Mondays remind me that I can have an abundant life, be resourceful, and learn a lot from my relationship with money.
Having said that, every Monday, I would like to help YOU on your financial journey, one step at a time. In a series I’m calling, you guessed it, Money Mondays! On Money Mondays, I will share with you my tried and true personal finance tips, as well as more resources, to help you learn how to make the most out of your mula.
Each week you’ll receive a post from me talking about things like steps to building an emergency savings fund, changing your beliefs about money, how to automate your finances, etc. This is based on my own experience and research. Yes, you will hear terms like “budgeting,” “Roth IRA,” “investing,” and all that jazz. But at the core of this, I want to share tools and experiences that might help you even if it just prompts you to do something small like saving $5 a month. I might even throw some questions at you for self-reflection… like right now!
TLDR; Money Mondays = a habit I’ve built of checking in with my finances and consuming financial education each week, AND the name of my latest series on here! Come back each week for money related articles every Monday.
Questions for reflection:
- What’s my current relationship with money? (e.g., “The thought of money makes me tense up,” “I’m scared to look at my bank account,” “I can’t seem to keep the money that I make,” etc.) No judgment necessary here, just an honest assessment of where you are right now!
- What are some of the beliefs I currently have about money and money management? (e.g., “Money is the root of all evil,” “Budgeting is restricting,” etc.)
- What is your relationship with saving? (e.g., “All I do is save,” “I’ve never saved before,” etc.)
- What is your relationship with investing? (e.g., seasoned investor, don’t know about investing, etc.)
- What are some purchases you’ve made in your life that you felt really good about? Why?
Give yourself time with these questions and prompts. See you next week with another Money Monday post!