Money Dates 101
Money Dates are a simple, concrete way to regularly check in with your money and your money goals. I’ve created this system so that anyone can start (or maintain) a better, healthier relationship with money. I’m very excited to share my process with you today! I LOVE Money Dates. I have them with my husband every week and, as much as I love these money dates with my husband, the ones I love the most are just with me. Solo Money Dates are pretty simple - all you need is a little bit of time, a willingness to learn more about yourself and your money habits, and access to your bank account(s). To make them even easier to implement, I’ve created a FAQ list that will get you started off on the right foot (or buck?).
Why should I do this?
Such an important question! Culturally, we are very isolated from our money, yet use it (almost) every day. Money Dates help to:
Normalize our experiences with money
Keep us on track towards our Money Goals
Teach us about our money habits - which often teaches us about our other habits and priorities!
Understand our lifestyles more fully
Become more mindful with our money habits
How much time do I need?
Not much! I set aside 15 minutes for each of my money dates. I love them, so sometimes I end up spending more time, but I always commit to at least a full 15 minute chunk of time.
How often should I have Money Dates?
My personal preference is once a week as part of my regular morning routine (usually on a Thursday) because I find that that frequency and time of day is the easiest for me to make habitual. However, I have clients who find that 2x a month or even 1x a month is a better fit for them. I have other clients who like to have their money dates during a lunch break or at the end of the work day as a way to mark the start to a relaxing evening. No matter your preferred frequency or time of day, make sure to set aside the time in your calendar so that you don’t forget about it!
EXPERT TIP: If you choose to have money dates less frequently then try to go for a little longer — shoot for 25-30 minutes instead of 15.
Where should I be?
Wherever! You will need access to either your bank accounts or your money tracker, so make sure to be somewhere where you’re easily able to pull those up, but otherwise it is totally up to you! I recommend being some place comfortable and private so you don’t have to deal with interruptions. Usually that means I head on over to my couch, but I’ve had successful money dates in coffee shops, parks, by a pool and even on a train! Anyone else feel the start to a Dr. Seuss book here?!
What do I actually do during the money date?
First review your Money Goals and ask yourself the following questions:
Do my goals spark joy? Marie Kondo that list y’all.
Do any of my goals need updating? Am I updating them because I haven’t made progress? If so, what do I need to change about my action steps?
Have I reached any of my goals? If so, do a dance, scream at the top of your lungs and take a #moneygoals selfie ASAP.
Then, look over your spending and saving habits since your last money date (or, if this is your first one - look at just the last week). Ask yourself the following questions:
Are my spending and saving habits aligned with my goals? If not, what can I shift now? What will take more time?
How can I make my spending and saving habits even more aligned with my goals?
Does anything seem wrong (i.e. got charged twice for Netflix, my health insurance auto payment isn’t showing up, my paycheck looks smaller this month)? If so, make a plan to follow up with the appropriate people.
What treat should I have?
My favorite treats are really simple - a few squares of dark chocolate, a homemade matcha latte, a yummy cup of tea (do you see a pattern here?). My treats are always food or drink related, but you don’t need to be so focused (or hungry) and instead plan an activity for after the date that makes you particularly happy. Or, better yet, do both!