Why You Should Check Your Bank Account Every Day
If you’re like me, you don’t wake up in the morning, jump out of bed, and start pouring over your financials. But at some point, during the day, you and I are going to make a financial decision of some sort. Whether it’s saying no to a donut with your on-route coffee or paying a bill, your bank account is going to change. What you see today is probably not going to be what you see tomorrow.
Now, there’s a fine line between financial health and financial obsession! I don’t want you to religiously check your bank account and never unglue your eyes from your statements. But I do want you to spend a few minutes every day to see how things are going in your financial life. Here’s why:
It checks your financial health
What’s the difference between being in shape and being overweight? Not a whole lot, until you get there! By monitoring your financial health every day, you are more ready to celebrate the things you do right and change course on the things you do wrong. When you see that there’s enough in savings, you relax. When you see you’ve dipped a little too far in the snack department, you know you need to make some adjustments. Consistently monitoring your financial health keeps you in better shape.
It makes you focused on reaching your goals
If you don’t consistently check your bank account (or budget), you will lose track of where you’re supposed to be. Your goals consist of tiny, little steps. It’s those tiny, everyday steps that make sure your goals are completed. Now, if you get paid once every two weeks, you’re probably going to have to wait until you get your check to make some progress. However, that doesn’t mean you shouldn’t check your financial goals every day. By keeping up with where your money is going, you’ll ensure that you can afford to take those bi-weekly steps. You’ll be focused.
It alerts you to transactions you didn’t see coming
Whether it’s a forgotten bill or an unauthorized transaction, we’ve all had those moments where we stare at our bank statement and wonder what that expense is. Of course, we’d love it if it was unexpected income, but that doesn’t happen often for some reason. By checking your bank account every day, you will be on top of your game to update your budget to include those forgotten payments, get a refund before it’s too late, or dispute a charge of fraud.
For me, it’s as simple as looking at an app on my phone. If apps aren’t your thing and it takes you more time, consider looking at it every other day. The point is that, by consistently checking your bank account, you will stay healthy, focused, and prepared for the unexpected.
How often do you think you should check your bank account? Leave a comment or message me here.