How "Saturday Finances" Changed My Life

finances Jul 13, 2020
 

How "Saturday Finances" Changed My Life

Are you struggling to run your business financially? Is debt following every move you make? Do you worry about how to handle your finances every time you walk into a dealership to make a purchase?

I've been there. Once upon a time I was broke, I destroyed my credit score, and I amassed debt that made it difficult to be a small business owner.

But today, I'm going to share my single simple system of doing my finances. It's been so successful that I do it every single Saturday morning without fail.

Here's how "Saturday Finances" has changed my life (and how it can change your life too!).

What is the concept behind "Saturday Finances"?

The idea behind Saturday Finances is simple. You dedicate a set time each week to your finances. For me, it's Saturday morning.

I've never missed it in the four years since I started Saturday Finances.

You create a system for doing your business finances. I use an app called Google Tasks, which helps me keep my to-do list. You can go in there and put in all your credit cards and accounts payable. This includes:

  • Gas
  • Phone
  • Electric
  • Cable
  • Internet
  • Mortgage
  • Shop payment
  • Truck payment
  • Insurance payment
  • Credit cards


Having an app allows me to keep it in one place where it's organized. It may take you a couple of hours at first, but I've streamlined my process to the point where it only takes me an hour (sometimes even half an hour).

Do I have to do it on Saturday?

No! Of course not. The idea behind Saturday Finances has nothing to do with Saturday.

If you're someone who doesn't want to think about money on your "day off," then scrap Saturday and pick another day of the week. You should pick a time and day that you know you can commit to.

The key is consistency.

The Saturday Finances system doesn't work unless you do it every week – even if you're on vacation – so you want to make sure that you'll stay on top of it and continue to pay down debt, pull up your credit score, and get where you want to be.

Pick a weekday morning or evening if that works better for you. Just make sure you carve out time in your calendar, stick to it, and take yourself seriously.

What's the difference between just paying bills and Saturday Finances?

Is Saturday Finances just a time to pay my bills? I already have a time for that.

 

Great question!

No, the Saturday Finances system is predicated on the idea that you're dedicating time to review your overall financial situation.

While you'll pay bills during this time, it's about evaluating where you're at and looking forward to where you want to be.

For me, it became easier to hire a bookkeeper to help me handle some of the more difficult tasks. Dan Platta from Blue Skies Bookkeeping was a lifesaver and helped make my Saturday Finances process even more efficient.

 

Why would I do this every week if I only have to pay bills once a month?

 

If you're someone who only looks at their finances once a month because all of your payments are due monthly, then you probably think this is overkill.

After all, why on Earth would you subject yourself to this more than you have to?

The answer is simple. Saturday Finances is about becoming proactive instead of reactive. Think about it like playing a whack-a-mole game at a carnival.

Saturday Finances builds a system into your life where you can pay bills as soon as they come in.

It also helps you double-check any accounts or financial statements you may have missed.

When your credit score relies on making payments on-time, you can never be too sure!

Final thoughts

 

Saturday Finances has become a staple of my work life.

 

Whether I'm at home or on vacation in Dubai, this is something I do to help my business remain financially stable. And guess what? It's changed my life, and it'll change yours too. 

 

Here's another great article from Robert Kiyosaki in Agora Financial About Crushing Your Financial Goals.

Pick a time each week and get started!

 

I wish you the best of success in your life and business. 

If you want my Free guide on the "7 Steps to Marketing Your Business". Text the Word "Untrapped" to 31996.

 Check out this awesome related topic on my podcast show.

"6 Reasons Why You Don't Have Money Saved For The Winter"