The best way to Spend Cash Correctly
Your calendar and bank statements have more in common than you might think.
If you’re someone who keeps track of all of your appointments and meetings for the months ahead, your calendar is a good snapshot of how you spend your time and with whom. On the flip side, your bank statements provide a good summary of where your money is going.
Together, these two personal documents say a lot about you – and if you look at them, you can even better control your finances.
“I spoke to someone recently and he said, ‘You know what people really appreciate when you look at their calendar and statement.'” Rachel Hollis, New York Times # 1 best-selling author behind the self-help book ‘Girl, Wash your face “and” Didn’t see this coming, “says CNBC Select.
Hollis suggests that you look at your own calendar and bank statements to know what things are important enough to keep you occupied. This will help you be more aware of your expenses and cut down on things that you don’t find valuable.
“As long as you know what you value, you can keep your financial intentions on that thing and then let go of things that aren’t that important to you,” says Hollis. “When you have to decide what to spend money on, spend money on what is important to you.”
How Viewing Your Statements and Calendar Can Improve Your Spending Habits
By looking at your bank statements and calendar, you can see what you are spending your money (and time) on so you know what you value.
Perhaps that means restricting your spending habits to just experimenting with things like eating out or traveling, because that’s the most important thing to you. In the pandemic world we now live in, most of your money and time outside of work may be spent at home on a new crafting hobby, new virtual fitness class, or watching a new show.
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According to Hollis, one look at her bank statement and you would know that she values her health the most. She says she takes care of everything related to her wellbeing, be it massage, therapy, exercise, really nice supplements, collagen powder, etc.
“If I don’t take care of my health, I can’t be a good mother, I can’t be a good leader,” she says.
While everyone certainly values good health, it may not be the best thing you get into. Everyone has different things to indulge in, and that’s fine.
“I’ll get an energy cure that is the most ridiculous thing on the planet and have absolutely no problem spending money where someone else thinks it’s ridiculous,” says Hollis.
Focus on only focusing on what is most important to you so that you can spend more money and save the rest.
“As long as you make the intent that it matters to you, you can make smart decisions,” says Hollis.
Wells Fargo Propel American Express® Card information has been independently collected by CNBC and has not been verified or provided by the card issuer prior to publication.
Editor’s note: The opinions, analysis, ratings, or recommendations expressed in this article come solely from the CNBC Select editorial team and have not been reviewed, approved, or otherwise endorsed by any third party.