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We had given our two kids each a free month subscription of Netflix for Christmas last year. When we signed up we also got a month free as part of a holiday promotion. We told our kids that after three months were over, they could decide whether they wanted to keep it or not.
But if they kept it, they would have to split the monthly $6.95 subscription fee.
She was right; I had not collected their payment since the end of the school year in the spring. My wife and I been in the habit of looking at and reconciling our checking account each morning.
Somewhere during the summer our morning financial checks over coffee and breakfast disappeared, and so did our ability to stay on top of our finances. I realized that I was now reconciling our checking account about once every 8 to 14 days.
Since we completed our debt consolidation plan we luckily have extra funds available and our situation didn't reach a level of putting anything on credit, or getting an overdraft charge.
We started up our old routine again of reconciling the checkbook each morning over coffee and breakfast. It came back easily, and after a few days it felt like we had never stopped.
It feels exhilarating to know we're on the same page with our finances at all times again. Our bank account balance isn't complaining either, and I just collected October's Netflix payment from our kids.
Have you ever fallen out of a good financial routine? How did you get it started again?
Gradually Improving Our Finances over Morning Coffee
The Budget; let's keep it real
Organizing Your Finances Doesn't Have to be Complicated
Travis is a contributing writer for the A Straight Talk on Debt blog. He is also a very active member of the CareOne community forums. Travis is currently enrolled in a CareOne Debt Management Plan (DMP). Travis candidly shares his personal journey to pay off his debt and the tips he's learned along the way. As a father and husband he provides a unique perspective on balancing debt, finances, and family in Minnesota. You can also read more from Travis on the Enemy of Debt blog, where he is a featured blogger. Compensated Blogger for CareOne Debt Relief Services.
You can follow Travis on Twitter @DebtChronicles
I am wondering what kind of spread sheet you use for your checking account? I used to use Microsoft Money. that isn't being made anymore. Quicken is very expensive. I am trying to find one that is not too difficult to use, and inexpensive or free.