Get in Touch With Your Funds—or Lack of Them!

Can you tell me, right now, how much debt, how many assets, and how many bills you have? Often you can’t. Yeah, you’ve got a vague idea of where things stand, but often, it’s only a general feeling.

One way to keep yourself up-to-date is to do a monthly checkup—together as a couple. Set aside an evening and figure out where you are, exactly. Make it pleasant—a nice dessert and coffee, a candle burning, soft music playing—and get down to business.
Lay out all your bills, statements, records and anything else that will tell you what you owe and what you own. Then figure out how you can simplify this by organizing your paperwork, keeping it in one place and consolidating anything you can.

Cancel anything that’s unneeded. Do you have a landline that you rarely use? Do you really need all the bells and whistles on your cable—or do you really need cable at all? Be ruthless!

Last, get everything in order and write down a master list of all you owe, all you own, where it is—everything that affects your budget.

Now you’re monthly checkups will be quick and easy. Update your master list, discuss the changes or challenges, and adjust your master list and files accordingly. Congratulations! You’re in a small group of wise people who know what’s really going on with your money.