3 Big Benefits of Money Dates
3 Big Benefits of “Money Dates”
If you’ve read some of my other blog posts about creating a budget, then you know that I can’t stress enough the importance of maintaining your budget. Too often I see people spending valuable time creating their budget, and then going about their month and completely forgetting about it. It’s not surprising when they look at their final numbers for the month and realize they’ve overspent.
When it comes to maintaining your budget, consistent check-ins are so important. One of my favorite ways to do this is to have a money date! I know, I know. How boring, right? Well, it’s not ALL fun, but it’s so valuable. Plus, what’s more fun than winning, succeeding, and reaching your goals? Checking in on your budget with a money-themed date is a proactive step in ensuring you’re staying on track.
What is a money date?
A money date is a date that involves a portion of the date where you talk about your budget. If you’re married or dating, a money date should be with your significant other. Another option is to have a date with a friend or family member that you trust. The trick is to have someone else in the room so you can talk things out and have a different perspective. Make breakfast at home, order takeout, or have a quick money date before movie night. The idea is to check in weekly or biweekly mid-month.
There are many benefits of money dates that will help you reach your budget goals.
Stay on Track
This one is easy. When you look at your budget sheet mid-month, it helps you remember your bigger goal and why you’re doing this. When doing a budget with your significant other, this is also a great time to make sure you’re on the same page. Each of you has a say in the budget if you have a joint account.
2. Course-Correct When Necessary
Perhaps you underestimated your grocery budget one month or forgot about a birthday gift that you needed to buy. A money date allows you to check in and make small adjustments or notes for next month’s budget. Don’t stress if you have to course-correct because that’s what these money dates are for!
3. Change Your Behavior
The behavioral benefits of consistently checking in on your budget are probably the most influential. When you’re making an effort to budget and stick to it, you’ll start to notice that what once seemed difficult starts to come naturally. For example, if you’ve given up or limited your Starbucks spending like me, the first and second months are the hardest. Once you get past the initial disruption, you start not missing it as much.
Schedule Your First Money Date!
You're going to have to ask yourself some hard questions and sometimes these conversations can be very difficult to start. That's why I recommend that these happen consistently so that you can start getting into the habit of talking about your money with your significant other.
I think the important part of this action is just to do it. Try not to overthink it and try not to let it stress you out. Make it quick! Now go schedule your first money date and let me know how it goes by sending me a direct message on Instagram. I’d love to know if you try this!