FMOOD 0200: The Importance of Weekly Budget Updates - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2017-07-05T12:00
It's important to not only complete a monthly budget, but it's also important to maintain that budget on a weekly basis. Revisiting the budget weekly allows us the opportunity to make sure that everything is in line and where it's supposed to be, especially making sure that we're not forgetting any budget line items in a given month. This is something that can take us by surprise, but if we're setting aside one day a week to ask ourselves if we may have missed any expenses that are coming up, it helps us to stay on track.
It also allows us to be more flexible with deviations that almost all of us will experience at one time or another. Don't get me wrong; it's good to learn how to budget and stick with a budget, but it's also easier on us to be able to roll with the punches when the time comes. Weekly maintenance of the budget allows us to be more fluid as well as understanding what we tend to forget from time to time.
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