Mixed Up Money spends one day a month managing her finances where she batches all of her financials tasks into a day at either the first or the end of the month.
I don't do the one day thing, but I can see the benefit of batching all the tasks at once. But to spend an entire day working on money stuff would be a bummer (especially since it would probably kill a Saturday) so I prefer to spread my tasks out. To that end, here's what I do:
- Once a week I pay all the bills received from the previous week, then update Quicken, adding in all my credit card charges, checks written, etc. as well as updating my stock values. This takes maybe an hour and involves charges/checks from my wife too.
- Once a month I review my investments to see how they are performing. I also update my real estate checking accounts (looking over revenue and expenses for the month) as well as any accounts earning interest or dividends. This might take an hour or so as well.
- There are various other tasks that hit now and then, but for the administrative parts of managing my finances, that's about it. Maybe five hours a month total.
That's how I manage my money. I try to keep it simple and quick. What's your process?