Small money tasks can pile up quickly if you don’t stay on top of them. And, because they feel small, they’re easy to push off for a few days… or even longer. Before you know it, you’ve already spent a chunk of the money you had planned to use, or a small fee has been applied to your account.
The solution is a brief weekly money reset that can be done in 15 minutes or less. This isn’t a full budget or a detailed system, just a quick check on your money across a few key areas. It’s a way to keep up with your financial responsibilities without making it a second job. The worst money problems are the ones you aren’t aware of, or the ones you feel powerless to do anything about. This weekly money reset is the first step to eliminating both of those headaches from your life.
Here’s how to do a money reset in four easy steps:
1. Check balances and recent spending. It’s a good idea to regularly look at your bank account and credit card balances alongside your recent spending. Doing that reinforces what you already know – that each small purchase you make does indeed add up over time.
2. Look ahead at bills due before the next reset. While you’re logged into your accounts, take a quick glance at any upcoming bills that are due before your next reset. The main purpose for this check is to make sure that you have enough money in your checking account to cover the bills. If the account is running low, you might need to move money from savings or transfer from another account. Or maybe there’s a particular bill you’ve been pushing off until the last moment, and now is when you’ll actually need to pay it. This part of the reset is just looking for anything urgent.
3. Choose one small spending or debt action. Since you’re probably not going to rebuild your entire financial system in a 15-minute reset, try focusing on small actions that can stick. One example is deciding to cut back on a particular spending category for the upcoming week. Another is to put a small amount you can afford towards a high-interest debt. While these small efforts alone won’t fix a broken system, they can help keep the wheels from coming off while you take action. And if you can only do a little, they actually help to build a little momentum and make you feel like you’re doing something positive.
4. Set up the coming week and the next reset. Close out your reset by looking ahead at the coming week. The easiest way to do this is to pick a day and time for your reset, maybe even going so far as to book a recurring meeting on your calendar. Another easy step is deciding when you plan to get groceries and what meals you want to eat.
In just 15 minutes, you can complete a basic reset of your personal finances. This isn't a replacement for a budgeting system, but it can be a helpful addition. It may also be a useful starting point for those who are working to develop a better financial routine in their life. If you want to start, just pick a consistent time of the week and block off 15 minutes on your calendar for a money reset.