Posted by Mike Smith :: September 17, 2008 @ 9:14 amTrying to manage all aspects of our personal finances can seem overwhelming at times. To help bound the frequency of some relevant events I listed how often I perform each of the following personal finance activities:
Daily
- Enter receipts into my budget software
- Check my investment positions
- Shred envelopes with my name and address
- Write for the Lending Club blog
- Go to work to earn my income
Weekly
- Contribute to my 401(K)
- Pay upcoming bills
- Read personal finance articles
- Discuss our finances with my wife
- Track progress towards my short-term goals
Monthly
- Analyze my spending and review my budget
- Contribute to my children’s 529 Plans
- Pay off my credit card in full
- Prepay my mortgage
- Make regular investments
- Read two personal finance books
- Reconcile my bank and credit accounts
- Transfer savings to a high-yield account
Quarterly
- Review my tax withholding and make estimated tax payments
- Calculate my net worth
- Track progress towards my long-term goals
Yearly
- Rebalance my investments
- Thoroughly review my budget
- Increase the amount I save, donate, and invest
- Compare insurance rates
- Review my estate plan
Your timeframe and activities are probably slightly different from those in my list. Since I get paid weekly, for example, that’s how often my 401(k) contributions are made. I have probably omitted others, such as filing my tax return, which is obviously done on a yearly basis. Creating a list of your own can serve as a reminder of when to perform certain tasks and help you to take control of a situation that otherwise may seem too burdensome to handle.
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