You ever have a day where your brain shuts down when you try to think about money? Maybe you log into your bank account to just check something and 20 minutes later you realize you’ve just doom-scrolled around your account feeling badly? Or perhaps you actually had the intention to sit down and get organized with a budget, only to start spiraling into overwhelm that eats into your entire afternoon.
That’s why we’re so enthusiastic about the Monthly Money Close. The Monthly Money Close is a helpful “productivity tool” (or really just a short routine) that helps you keep an eye on your money without freaking out.
First things first: time yourself
Before you even put an eye on your accounts, the first step is to set a 30-minute timer. And this is not a “snooze,” situation where you go longer than your allotted time. Even if you haven’t finished everything you planned, that’s it! Stop. This boundary is incredibly important.
What should you do once you set your timer? Open all of your banking and credit card apps and last month’s calendar (if you use one). Silence your phone, get some water, and close any tabs that aren’t what you need.
Altering your setup in this small way can make a huge difference.
Get started
All we’re doing first is scanning and getting the lay of the land — don’t worry about fixing anything yet.
- Look through the charges. Anything weird? Flag it.
- Did your payment go through? Cool, move on.
- Is something labeled inaccurately? Fix it if it will only take a minute or two. Otherwise, just make a little note.
This is about keeping track of things, not having a perfect record. This is a quick skim and shouldn’t make you spiral. If something really does make you anxious, give it an asterisk and return to it another day.
A quick glance at your goals
Were you trying to save a certain amount last month? Perhaps you were trying to avoid overspending in one specific area. Whatever your goals were, write a single line clarifying how it went:
“Added $60 to vacation fund.” Or “Groceries spending was out of control again.”
If anything’s changed in the last month — a new expense, a surprise bill, or a job change — take a few seconds to adjust your goals. This is a flexible process, so you shouldn’t feel stuck!
Pick three things you can actually finish
This is the only “action” part. You pick three money things you can do quickly. Not huge tasks. Not projects. Little ones. Like:
- Cancel one subscription
- Move $25 into savings
- Change the due date on a bill
- Think of a better, more memorable name for your account so it’s easier to track
- Set up a low-balance notification for yourself
These are tiny tasks. Each one shouldn’t take more than a quarter of an hour. If it takes longer, break it into smaller tasks and attack those next time.
Capture it somewhere you’ll actually look
Where others might try to get fancy, we’re focusing on effectiveness. Find a place (where you’ll actually look) to write out your current checking and savings balances. Select a single credit card to track if you’d like. List your 3 mini-tasks. Then jot down one thing that frustrated you this month money-wise and one win. That win can be small! Small wins are incredibly important and scale up to big wins.
And voila! That’s your snapshot! It can be on a piece of paper on the fridge, your notes app, or anywhere else you’ll notice it. You could label it “January Money Close,” and remember to keep it with last month’s so you’re able to glance back later, and see your progress.
Don’t chase the perfect version
Spoiler alert: There’s no perfect version! Some months you might do this late, or some months you might feel like it’s a waste of time. Don’t worry because you still sat with your money for 30 minutes instead of avoiding it for 30 days.
If you only get to 2 out of 3 things? That’s totally fine — that’s still a win. If you start to get anxious partway through? Take deep breath, and jot down “I feel tense.” That actually counts as a win.
The key is self-compassion and self-encouragement. Self-criticism will only make you stall out. Be your own advocate and protect your energy and mental health by setting that time boundary and not giving yourself a hard time if you don’t do this perfectly (it bears repeating — there is no perfect!).
Quick tips for if your brain tries to hijack the process
Don’t download a new money app during this process, start a brand-new spreadsheet, or try to fix your entire budget from scratch. If you get overwhelmed? Stop early — there’s no penalty for that. If you forget next month, do it when you remember. The system will still work.
This isn’t a giant overhaul to whatever you’re doing now — it’s simply you keeping an eye on things each month, and making progress without getting overwhelmed.
And for what it’s worth, that’s more than most people ever do.