Home » Spending Practices » Knowing Your Personal Finances: Monday Check-up

Knowing Your Personal Finances: Monday Check-up

Enter your email address to follow Know Your Money and receive notifications of new posts by email.

Join 406 other followers


RSS Know Your Money

  • Great New Book – The 7 Untold Rules for Creating Black Wealth
    I just discovered this new book today, "The 7 Untold Rules for Creating Black Wealth," written by Eugene Mitchell, Founder and Principal of E. Mitchell Consulting Group for Financial Literacy & Financial Services.  Check back here for ... Continue reading →
  • Listen To Certified Financial Planner Tonight, On Donell Edwards: VIEWPOINTS
    Understanding how to avoid making costly mistakes in managing personal finances, and achieve and maintain control of personal finances. Continue reading →
  • A New Day
    I apologize for my absence, but I embarked on a new venture that took much more time than I imagined, but it was well worth it.  In March of last year I started my own talk radio show.... Continue reading →
  • The Conversation Everyone Avoids, That Almost Everyone Should Have
    38% of American households carry month-to-month credit card debt...."Households with the lowest net worth (zero or negative) hold an average of $10,308 in credit card debt."...69% of Americans have less than $1,000 in savings, while 34% say they have no savings at all. Continue reading →
  • Important Announcement
    So, having money problems is not always the result of a lack of knowledge but can involve a person's judgment, circumstances, and sometimes... Continue reading →
  • Her Story
    Recently, a story came to light in my hometown about a 27 year old woman who was cited for a misdemeanor sex charge. She was caught by an undercover detective in a sting operation targeting escort services. It was her first night on the job. How did she get there? She said.... Continue reading →
  • Know Thyself
    She told Oprah that losing her money was the result of, “being a millionaire with a ghetto mentality.” ... The only relationship she had with money was spending it. Continue reading →

Donell EdwardsDonell Edwards, Blogger

About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.



Know Your Money
Monday – March 10, 2014

Knowing Your Personal Finances
Monday Check-up
By Donell Edwards

Happy Monday!  I hope you had a great weekend.

Speaking of the weekend, that is one of the easiest times to get into trouble with overspending and getting off budget.  Remember the proverb we shared previously, “Good habits result from resisting temptation.”  Usually on the weekend there is lots of temptation to go places, do things, buy stuff, be with family and friends, enjoy a favorite pastime, or other costly endeavors that may not be included in the budget to celebrate the end of another week.  Much of this is usually impulse buying.  Most of us do not resist the temptation and get into financial trouble.  If this describes you, make the commitment right now to change, to transform this bad habit and resist the temptation.  That is why our topic for today and each Monday will be, the Monday Check-up.

Stylish Woman Dancing with Martini in Hand

Be totally honest with yourself, you must if this is going to benefit you; did you engage in any buying activities over the weekend that were not included in your budget?  If you did, reslove that this will be the last time that happens.

Have you included all of your weekend spending in your spending journal, or whatever you are using to track your spending?  If you have not, take some time out today to think back over the weekend about what you did and what you spent, and add this to your spending journal/tracker.

Since this is a check-up, here are some other things to review today:

  • Do you have a budget?
  • Have you objectively and thoroughly examined your budget to make it realistic?
  • Have you include all spending in your budget, everything, down to the morning newspaper or daily cup of coffee?
  • If you do not have a budget, what are you waiting on?
  • Did you read last week’s post on available resources, and did you select a method to track your spending and the tool you are using or will use for this purpose?
  • If you did not read that post go back and read it and visit the sites that interest you most.
  • If you are not tracking your spending, get started.
  • Are you still in denial that you may need to make some changes, or after evaluating your current circumstances have you gotten past the denial?
  • If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

This is a process, and the first step in that process is monitoring and evaluating spending to determine where the money is going, what money is being wasted, and what spending needs to be eliminated.  We have also issued a challenge to everyone who is interested in improving their money management skills, and that challenge is to prepare to change. Anyone who wants to overcome bad money management habits, or even those who want to improve on their good habits, must be willing to make changes, even some that may be radical.

We commend you for continuing to read this blog and for any effort you are making to take control of your personal finances.  I know that this can be very difficult.  Much of what I am sharing with you is based on my own personal experiences in working through my own lack of knowledge at one time in managing my money.  So, I genuinely commend you and I thank you for your support.

Great things are coming this week:

Tuesday – What Happens When The Budget Comes Under Attack?

Wednesday – Making Change, from guest contributor Felicia Johnson

Thursday – Have We Gotten Past the Denial Yet?

Friday – Confessions Of A Spendaholic – I share my own experiences with readers

We Would Like To Hear From You:

If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.

Recommended Reading:

Cutting Monthly Expenses


Eight Ways to Stop Overspending Now


Follow us on Twitter for more information about personal money management

Copyright © 2014 CWR Media – All Rights Reserved




1 Comment

  1. good post that helps to stay on track on my debt snowball i think the more support you have getting out of debt the better you can focus on getting it done

Comments are closed.