A 20-minute monthly money review
A short monthly routine that keeps your money under control: what to look at, what to compare and which decisions to make. · 4 min read
Why a monthly review
Recording transactions is half the job. The other half is regularly looking at the results and drawing conclusions. Twenty minutes at the start of the month is enough to spot problems while they are small and to enjoy your progress.
Five questions about last month
Go through them in order — that is the whole review.
- How much came in and how much went out? Did you end the month in the black?
- Which three spending categories were the largest, and did they change compared with the previous month?
- Did you stay within your limits? Where did you overspend and why?
- How much did you put aside, and how did your goals move?
- What big payments are coming next month?
One decision for next month
Don't try to fix everything at once. Choose one specific action: set a limit on food delivery, cancel an unnecessary subscription, increase a savings contribution by 200 lei. One decision carried out every month means twelve improvements a year.
The monthly summary comes to you
At the start of each month Moldonyan Finance sends a summary of the previous one: income, expenses, the biggest categories and a comparison with the previous period. It is a convenient starting point for your review.