The Perfect Financial Routine | How Often Should You Review Your Finances? 

I like personal finance too much. I’m literally tweaking things on a weekly basis, checking balances daily and tossing ideas around in my head before going to sleep. And it’s not out of stress or obsession, I just enjoy it. I turned myself into a nerd. 😂

I check all of these things weekly. For me, it’s easier to spend 20-30 mins a week updating everything to see how we’re tracking. It’s helped me be more mindful with spending and stopped a lot of impulse purchases because I’m constantly reminded of my larger financial goals

I have put $300/month into my Roth IRA account since I was 18. And it has grown a lot 😊

I have a 25-year long tracker of my investments & net worth spreadsheet. At the end of each year, I just copy the 31 December calculations into a new tab for the next year. It does make for some interesting look-backs. But I definitely try not to review my investments more than once a quarter , unless there is a specific action I’m considering or a meeting with my advisor.

Sometimes every day looking 🤗

I know I am a total geek when it comes to financial stuff. I use Quicken and have since the late 80's (yeah, 1980's for all you youngins). I update it daily. I also track my retirement portfolio performance weekly in a spreadsheet. Tracking all this helped me retire at 52. That was 7+ years ago. Retirement is good.

I update my balance sheet every month. And move whatever I can from my HSA base to HSA investments.

I'm old enough to remember having to balance my checkbook every time I got my statement in the mail once a month. To have access to my account balance anytime I want is something that I'm truly grateful for, and so honestly, I check my transactions every day. I track everything in a spreadsheet I built that independently keeps a running total of all my account balances and I'm constantly reconciling. I even track down to the coins in my wallet. By tracking, I'm very mindful of my spending and feel the pain of it since I have to note every single one in my spreadsheet. (Sometimes I won't buy something to save the hassle of noting it down...lol) I budget monthly and yearly because I have predictable income and I check retirement balances and net worth quarterly, Definitely great advice to check yearly for insurance and estate planning... That's something I'm going to add to my financial routine. Great video!

I check weekly and glad I did. Last month, my automatic mortgage payment went towards escrow and not towards the monthly balance. They would have charged me late fees and effected my credit score if I didn't catch it and pay the full balance for the month.

Credit card transactions daily to make sure accurate charges. Budget weekly to make sure we’re on a track and know how to adjust if we’re not. Investments more than I should. The market always play with my feelings.

I look at my bank account all the time! And then I ask myself: "What would Erin do?"

Brian Preston's Millionaire Mission book is out. I am on Chapter 3. Try and get your library to order a copy so you can do a review.

Great Video Erin!! Thank You! I feel better knowing I am doing my best in each of these areas!

Checking account: Daily. Budget: reconciled to our checking account weekly. Investments: checked monthly, but any changes are made based on longer trends, a year or more. I just retired, so we're going through a lot of scenarios right now, but once that settles down we'll review our documents to make sure everything is up to date. After that, about once a year.

I do a complete financial review every month when I make my monthly budget. I check my savings and investing accounts, credit score and net worth. This helps me see the big picture of my financial life. It helps me see the progress I am making or not making...But I do check my credit cards and regular checking accounts more frequently.

Good morning Erin, it's good to see you again today. These points are all very worthwhile and everyone should adopt them and make them part of their process and routine as frequently as it serves their needs. Personally, I glance things over on an ongoing basis weekly for bills and checking accounts, weekly or monthly I glance at investment accounts, try to do a net worth statement every 6 months etc. I use Empower and New Retirement so it's pretty easy to keep on top of things. I too am reading Brian Preston's new book and I also got one for my son. I'm retired and already done it but want to see what I could have done differently and better. The learning never stops with me, I love this stuff. Have a great week and keep up the great content Erin, you are planting seeds and helping others. Larry, Central Valley, Ca.

I screen shot my net on dec 31 and analyze the difference at the end of every month. Helps a lot.

I've tracked my net worth quarterly for 20 + years and you are spot on with a little disheartening at 1st and those unpleasant quarters and years but is one of the most satisfying financial nerd things I do. I actually look forward to it, YIKES

Hey Erin, great video love the timing of everything I would add a couple things. I know you can’t include everything because you’re just asking people what they’re going to do each year and how often. my suggestion would be to do a credit freeze and just understand how tricky the big three make that. because they lose their ability to make money when you do a credit freeze I think this could be a future topic for you along with a tax filing pin, I think it’s really important when you talk about identity theft to understand the importance of doing a credit freeze and also having the pin for tax returns as always wonderful work congratulations on your Channel. Amazing when you talk about compounding interest to think about how your subscribers have compounded in the last two years. And yes, definitely save your network statements. Someone recently spoke about what age they became a millionaire so I went back to look for me. I think more important is now that I’m really close to retirement to see I’ve already made double in my retirement account. What I’ve made in salary this year What that compounding can do

Thanks Erin. Good breakdown. I especially appreciate your comfy clean on the quarterly taxes. 😂

Right on Erin 👍👍👍

We check individual equities on our buy list daily. We check our budget weekly. Full financial review is monthly.

I keep my monthly budget in Numbers on my iPhone, so I look at it on a daily basis and/or when I need to add an expense in real time. My net worth I check every month. I also check my dividend cash flow every month as well.

Daily investment account checks. Monthly Net Worth calculations. Weekly credit card and bank account checks. Twice minute-ly crypto checks. Only one of those is a joke. ^^

I do similar things to what you mentioned in your video. Every week, usually on Monday, I check my credit cards and checking account balance, and make sure I have enough funds for the expected charges that week. If there's not enough, I transfer funds from my savings at that time. If there's too much, I transfer back to savings, leaving around $1000 buffer in the checking account. Also every week, I update a spreadsheet with my investment account balances, just for personal curiosity on how the market is doing. The last thing I do weekly is check the credit score via an app from my bank. Once a quarter to 6 months, I do a deeper dive into investments, and rebalance things as necessary, or change investments. Finally, once a year, I do the most in depth check. I print off a list of assets and end of year balance, along with account numbers, and file it with my will, to help my family if I pass away unexpectedly. Obviously, I keep these papers secure. I also check the credit reports at this time. This is also the time to check on life insurance policies, net worth, etc.

The first week of january i check every single thing and put all the updated info put into a massive binder. I usually dont change much then unless its something i can do to reduce costs like cut netflix if i havent gotten my moneys worth out of it. First week of july i go through my major stuff like 401k and ira. I do course corrections on these if they arent performing. Monthly i look over bank acccounts and smaller things. I may glance at my 401k and ira just to see how they are doing. I rely on yearly billing cycles with things like insurance to plan them. Everytime i get a yearly bill first thing i do is check to see if there has been an increase for the next year. I also use it to shop for alternative providers and see if its worth swapping. Too many people stick with the same company for years and just get beat up in fees

You have such smooth delivery, which I'm sure has come with time and experience. Do you write scripts and more or less memorize them, or do you have bullet points of what you want to say and then fill in around those?

i add up our networth weekly(no home equity) and lately end of the month as well and of course last trading day of the year but check one large account most days. i used to add it up more often. been doing this for the last 20 yrs. since retirement, we add up all our expenses for the month the following month. i transfer funds to hsa monthly and do the quarterly estimated taxes. i think about the investments and strategize most days as i like doing it.

I check my current accounts and instant access savings every few days. I check my investments every 6 months. I check my net worth every month (i use the investment amount the same as the last time i checked it, so it can be a few months out of date)

I was stunned when I found out how many people don't balance their checkbook or even review their credit card statements.

I actually prefer to have a debit/bill pay transaction denied for lack of funds if I screw up and don't have enough funds... for other things I have a $500 overdraft "Loan" that will cover overdrafts if a Bill Pay transaction goes through out of sync. These help me (imo) to limit any amounts that fraud might get away with... Yes, that money should come back in the long run, but I prefer to limit how much I have to fight to get back. Now, my checking usually only has 550 max and I tend to run it down to exactly 5 every pay period. Meanwhile my "savings" account can have much more there...

So you’re saying I shouldn’t check my long-term investments about 9 times per day?

I do it daily. Way too much... Its like my morning routine...

Anyone have recommendations on where to set up an IRA for my teenaged son? I’d like to get him into the habit of setting aside a little of his paycheck to invest in index funds. Thanks !!!

6:15 How Come the credit score that Wells Fargo gives me monthly is different from the one that my Capitol One credits card gives??

Can I see the bloopers?