10 Things To Do At The Beginning Of Every Month For Your Money

Let’s be real, how many times have you reached the end of the month wondering where all your money went? :/ You started with a full paycheck, and now you’re scraping together coins for gas money. Sound familiar?

Here’s the thing: most people treat their finances like a Netflix subscription they forget they have. They let the month happen to them instead of taking control. But you? You’re about to change that game completely.

I’m going to walk you through 10 powerful monthly rituals that’ll transform your relationship with money. These aren’t just boring “save more, spend less” tips you’ve heard a million times. These are real, actionable strategies I’ve used (and still use) to keep my finances tight and my stress levels low.

So grab your coffee, get comfortable, and let’s talk about how the first few days of each month can literally make or break your financial success.

What Is The Best Financial Thing To Do At The Beginning Of The Month?

You want the secret sauce? It’s budgeting. Period.

I know, I know, budgeting sounds about as exciting as watching paint dry. But hear me out. Your budget is basically your financial GPS. Without it, you’re driving blind, hoping you don’t crash into an overdraft fee.

Think of budgeting as telling your money where to go instead of wondering where it went. When you create a budget at the start of each month, you’re not restricting yourself;  you’re permitting yourself to spend guilt-free because you’ve already planned for it.

Every dollar gets a job. Your rent money knows it’s going to rent. Your coffee fund knows it’s for coffee (because let’s be honest, you’re not giving that up). And your savings? They’re already earmarked before you can “accidentally” spend them on another pair of shoes you don’t need.

The beauty of starting your month with a solid budget is that you eliminate that nagging anxiety about money. You know exactly what’s coming in, what’s going out, and what’s staying put.

Reasons Why You Should Make Wise Financial Decisions At The Beginning Of Every Month

Ever wonder why some people seem to have their financial life together while others are constantly playing catch-up? The difference isn’t luck or income, it’s timing and intentionality.

The first few days of each month are prime real estate for your financial success. Here’s why making smart money moves during this window matters so much:

Rid Yourself Of Financial Stress

Money stress is the absolute worst. It keeps you up at night, ruins your mood during the day, and makes you snappy with people you actually like.

When you can’t cover your credit card bill, when rent is looming and your account is looking sad, when your savings account is basically empty, that’s when financial anxiety takes over your entire life. Trust me, I’ve been there, staring at my banking app at 2 AM like it’s going to magically show different numbers.

But here’s what I learned: most financial stress is actually decision stress in disguise. When you make the right calls at the beginning of the month, setting up payments, organising bills, and planning expenses, you remove about 80% of that anxiety.

You’re not constantly wondering “Can I afford this?” because you already know. You’re not panicking about bills because you’ve already scheduled them. The mental freedom that comes from this? Priceless.

Eyes On Your Goals

Quick question: What are your financial goals for this month?

If you hesitated, that’s exactly the problem. Most people set big yearly goals (“I want to save $10,000 this year!”) but forget that years are made up of months, and months are where the actual work happens.

When you start each month by revisiting your goals, something magical happens. Those big, scary, far-away dreams suddenly become manageable monthly missions. Saving $10,000 in a year? That’s about $834 per month, still challenging, but way more concrete than some vague annual target.

IMO, monthly goal-setting is where winners are made. You get 12 chances each year to adjust, improve, and celebrate progress. Miss a target in January? February’s got your back.

Stay Organized

Life comes at you fast. Between work deadlines, family obligations, social plans, and just trying to remember if you fed the cat, it’s chaos out there.

Your finances? They’re no exception. Bills don’t arrive on a convenient schedule. Subscriptions renew randomly. Expenses pop up like whack-a-moles.

Starting the month organised means you’re not playing defence with your money. You’ve already listed every expense, mapped out every payment date, and identified potential problems before they become actual problems.

I keep a simple spreadsheet (nothing fancy, just Google Sheets) where I track everything at the start of each month. Takes me maybe 20 minutes, and it saves me from hours of stress and probably hundreds of dollars in late fees or missed payments.

Improved Financial Situation

Here’s a truth bomb: your current financial situation is the result of your past financial decisions. Not exactly rocket science, right?

But here’s the hopeful part: your future financial situation will be the result of the decisions you make starting right now. This month. This week. Today.

When you commit to making smart money moves at the beginning of every single month, you’re essentially compounding good decisions. Each month builds on the last. Small improvements stack up.

Cut $50 in unnecessary expenses this month? That’s $600 this year. Do that consistently while also increasing your income even slightly? Now we’re talking real financial transformation.

The people who seem to magically get ahead with money aren’t lucky; they’re just consistent with their monthly financial habits. And consistency starts at the beginning of each month.

10 Helpful Things To Do At The Beginning Of Every Month To Improve Your Finances

Alright, let’s get into the good stuff. These are the 10 non-negotiable monthly rituals that’ll level up your money game. I’m not promising miracles, but I am promising results if you actually do these.

1. Reflect On The Previous Month

Most people treat each month like a fresh start and immediately forget everything that just happened. That’s like playing a video game where you never learn from your mistakes, you just keep dying in the same spot.

Don’t skip the reflection stage. Seriously.

Grab your bank statements, credit card bills, and any spending tracking you’ve done (you’re tracking your spending, right?). Now look at the previous month with honest eyes:

• Where did you overspend? Was it dining out? Online shopping at midnight? Those “small” daily coffee runs that added up to $150?
• What financial wins did you have? Maybe you resisted that impulse purchase, or you actually stuck to your grocery budget for once.
• Which expenses surprised you? There’s always at least one “Wait, I spent HOW much on that?”
• Did you meet your savings goals? If not, why not?

I do this every month while having breakfast on the 1st or 2nd. It takes about 15-20 minutes, and it’s honestly become my favourite financial habit because it keeps me accountable to myself.

The key here isn’t to beat yourself up over mistakes. It’s to spot patterns. When you see yourself overspending in the same category three months in a row, that’s not bad luck; that’s a habit that needs addressing.

Learn from what didn’t work. Double down on what did. It’s that simple.

2. Examine Your Financial Situation

Time for a financial health check-up. Think of this as your monthly money wellness exam.

Pull out all your financial information and give yourself a comprehensive review:

Your income situation:

• Did you receive your full expected income last month?
• Are there any changes coming this month (bonuses, commission, side hustle earnings)?
• Do you need to hustle for extra income this month?

Reality of your expense:

• Have any bills increased? (Seriously, check this, companies love sneaking in price hikes)
• Are you carrying any new debt?
• What’s your cash flow looking like?

Your accounts:

• What’s your checking account balance?
• How’s your savings looking?
• What’s your credit card balance? (Be brave, look at it)
• Any investment accounts that need attention?

I know billionaires have financial advisors doing this for them, but guess what? You can be your own financial advisor. It might not be as glamorous, but it works just as well for managing your money.

This examination helps you catch problems early. Maybe your streaming subscriptions have crept up to $80/month when you only watch one service regularly. Or maybe your electricity bill doubled because summer hit and your AC is working overtime. Catching these early means you can adjust before they derail your entire budget.

FYI, I use a simple notebook for this. Digital tools are great, but there’s something about physically writing down your numbers that makes them more real and harder to ignore.

3. Build A Budget

If you haven’t picked up on this yet, budgeting is your financial superpower. Every month needs a fresh budget because every month is different.

Here’s my practical approach to monthly budgeting:

Step 1: Write down your total monthly income. This is every dollar coming in, salary, side gig money, that $20 your aunt owes you, whatever. Be realistic, not optimistic.

Step 2: List your fixed expenses. These are the non-negotiables:

• Rent/mortgage
• Utilities (electricity, water, gas)
• Phone bill
• Internet
• Insurance payments
• Car payment
• Minimum debt payments
• Subscriptions you actually use

Write the amount and the due date next to each one. Due dates matter because paying late is literally throwing money away on fees.

Step 3: Calculate your variable expenses. These change month to month:

• Groceries
• Gas/transportation
• Dining out
• Entertainment
• Personal care
• Clothing
• Miscellaneous/random stuff

Be honest here. If you typically spend $400 on groceries, don’t budget $200 and set yourself up for failure.

Step 4: Don’t forget the important stuff:

• Emergency fund contribution
• Savings goals
• Debt payoff beyond minimums
• Sinking funds (for irregular expenses like car maintenance or gifts)

Step 5: Do the math. Income minus all expenses should equal zero. That’s zero-based budgeting, and it’s the most powerful budgeting method out there.

If you have money left over, great, assign it a job (probably savings or extra debt payment). If you’re in the red, you need to either cut expenses or find additional income. There’s no third option.

I recommend using apps like Mint, YNAB (You Need A Budget), or even just a simple Google Sheets template. The tool doesn’t matter as much as actually using it consistently.

4. Do A Food Inventory And Plan Ahead

Okay, this one might sound random, but stick with me, this is about to save you serious money.

Food is probably one of your biggest variable expenses. For most people, between groceries, dining out, takeout, and those random gas station snacks, food easily eats up (pun intended) 15-20% of their income.

Here’s what I want you to do at the beginning of each month:

Take inventory of what you already have. Open your fridge, your freezer, your pantry. What’s actually in there? I guarantee you have ingredients you forgot about. Use them first before buying more.

Plan your meals for the month. You don’t need to plan every single meal down to the garnish, but have a general idea of what you’ll be cooking. This prevents the dreaded 6 PM “What’s for dinner?” panic that leads to expensive delivery orders.

Create a strategic grocery list. Based on your meal plan, list exactly what you need. Then check your inventory to see what you already have. Only buy what you actually need for planned meals.

Buy in bulk (smartly). For non-perishables and things you use regularly, buying in bulk from places like Costco or Sam’s Club can save tons of money. Just don’t fall into the trap of buying bulk stuff you won’t actually use.

I started doing this about two years ago, and my food spending dropped by almost 40%. Forty per cent! That’s hundreds of dollars per month that I was basically lighting on fire with poor planning.

Plus, you eat healthier because you’re not defaulting to fast food out of convenience. You’ll save money and probably feel better. Win-win.

5. Revisit Your Incomplete Objectives

Remember those goals you set last month? The ones you were totally going to accomplish? Yeah, let’s talk about those.

Life happens. Sometimes you don’t finish everything you planned. That’s normal, you’re human, not a productivity robot. But the key is not letting those goals just disappear into the void of “someday.”

At the start of each month, pull out last month’s goal list and ask yourself:

• Which goals did I complete? Celebrate these! You deserve recognition for wins, even small ones.
• Which goals am I still working on? These get moved to this month’s list.
• Which goals are no longer relevant? It’s okay to let things go if they don’t matter anymore.
• Why didn’t I complete certain goals? Was it a lack of time? Money? Motivation? Understanding the “why” helps you adjust.

Here’s where this connects to your finances: many monthly goals have financial implications. Maybe you wanted to sell old stuff on eBay but didn’t get around to it; that’s potential income you left on the table. Maybe you wanted to fix something yourself instead of hiring someone; that’s money saved if you finally do it.

Even non-financial goals matter because accomplishing them builds momentum and confidence. When you check things off your list, you feel capable. That confidence spills over into your financial decisions.

I keep a running list in my phone’s notes app. Super simple, just goals and checkboxes. When I complete something, I don’t delete it; I check it off so I can see my progress. It’s surprisingly motivating to scroll back and see all those checkmarks accumulating.

6. Meditate And Set Your Financial Goals

Before we dive into goal-setting, let’s talk about something most personal finance “experts” completely ignore: gratitude and mindfulness.

I want you to spend 10-15 minutes at the beginning of the month just sitting quietly and acknowledging what’s going well. Not in a toxic positivity way, but genuinely recognising your wins:

• You made it through another month
• You kept a roof over your head
• You fed yourself
• You paid at least some of your bills
• You’re still trying to improve

Financial stress can make us forget that we’re actually doing okay in many ways. Taking a moment to appreciate what you have puts you in a better mental space to plan for what you want.

Now, let’s set some financial goals for the month. These should be SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound:

Bad goal: “Save more money this month” SMART goal: “Save $300 this month by cutting dining out spending in half and transferring the savings to my high-yield savings account on Marcus every Friday”

See the difference? The second goal tells you exactly what success looks like and how you’ll achieve it.

Your monthly financial goals might include:

• A specific savings amount
• Paying off a certain amount of debt
• Starting or adding to an emergency fund
• Earning extra income through a side hustle
• Reducing a specific spending category by a percentage
• Learning about a new investment strategy

Keep your goals realistic. If you’ve never saved a dollar in your life, don’t make your first month’s goal saving $2,000. Start with $100 and build from there. Small wins create momentum.

Write these goals down somewhere visible. I use a whiteboard in my home office. Every day, I see my monthly financial goals staring back at me, keeping me accountable.

7. Assess Your Spending Habit

Time to get brutally honest with yourself. How’s your spending looking?

I don’t care how perfect your budget is; if you have terrible spending habits, that budget is just a nice piece of fiction. This is where the rubber meets the road.

Pull up your bank and credit card statements from last month and categorise every purchase. Yes, every single one. I use categories like:

• Necessary spending (bills, groceries, gas, medication)
• Discretionary spending (entertainment, dining out, hobbies)
• Impulse purchases (stuff you bought without planning)
• Regret purchases (stuff you bought and immediately regretted)

Now, look for patterns:

When do you overspend? Some people blow their budget in the first week when they’re feeling flush from payday. Others struggle at month-end when money’s tight and they stress-spend.

What triggers your spending? Boredom? Stress? Social pressure? Advertising? Knowing your triggers is half the battle.

Where are you bleeding money? Are daily coffee runs adding up to $150/month? Subscription services you forgot about? Convenience store stops that somehow total $200?

The goal here isn’t shame, it’s awareness. You can’t fix what you don’t acknowledge.

I discovered I was spending almost $300/month on food delivery. Three hundred dollars! Once I saw that number, I couldn’t unsee it. I immediately cut back because I realised I didn’t even enjoy most of those meals; I was just being lazy. That awareness led to change.

If you identify bad spending habits, create specific strategies to combat them:

• Delete shopping apps from your phone
• Use cash for discretionary spending
• Implement a 24-hour rule for non-essential purchases
• Unsubscribe from marketing emails
• Find free alternatives to paid activities

8. Cut Down On Your Expenses

Unless you’re swimming in money (and if you are, can we be friends?), You probably have room to trim your expenses. This is where the magic of frugal living comes in.

I’m not talking about deprivation. I’m talking about intentional spending, cutting the fat while keeping what truly matters to you.

Low-hanging fruit to cut:

Subscriptions you don’t use: Go through your bank statements and identify every recurring charge. Do you really need Netflix, Hulu, Disney+, HBO Max, and Amazon Prime Video? Pick one or two. You can always rotate them.

Premium versions of free services: Do you really need Spotify Premium, or will the free version work? Do you need YouTube Premium? Think about it.

Gym memberships you ignore: If you haven’t been to the gym in three months, cancel it. Work out at home with free YouTube videos or run outside. Don’t pay $50/month for guilt.

Brand loyalty that costs you: Store brands are usually just as good as name brands for most products. The savings add up significantly over time.

Convenience costs: Delivery fees, service charges, premium pricing for convenience; these are everywhere. Doing things yourself saves tons.

More strategic cuts:

Housing costs: If you’re renting, maybe it’s time to negotiate with your landlord or consider a roommate. If you own, look into refinancing or challenging your property tax assessment.

Transportation: Could you carpool? Use public transit sometimes? Combine errands to save gas? Shop around for cheaper car insurance?

Utilities: Simple things like adjusting your thermostat, unplugging electronics, and using energy-efficient bulbs can cut utility bills by 20-30%.

Phone bill: Most people are overpaying for cell service. Check out budget carriers like Mint Mobile or Visible, you’ll get the same coverage for half the price.

Eating out: This is the big one. Even cutting your dining out budget by 50% could save you hundreds per month.

The key to sustainable expense cutting is to be strategic. Don’t cut things that genuinely bring you joy or value. Cut the waste, the stuff you pay for but don’t use or don’t actually care about.

Start the month by identifying three expenses you can reduce or eliminate. Just three. Don’t overwhelm yourself trying to cut everything at once. Small, consistent reductions compound over time.

9. Set Reminders For Important Dates

This might sound simple, but it’s a game-changer. How many times have you paid a late fee because you forgot a bill was due? Or scrambled last-minute to buy a birthday gift?

At the beginning of each month, do a calendar audit:

Financial dates to remember:

• Bill due dates (ALL of them)
• Credit card payment dates
• Loan payment dates
• Subscription renewal dates
• Payday dates
• Any financial deadlines

Personal dates with financial implications:

• Birthdays
• Anniversaries
• School events
• Appointments
• Holidays coming up

Set reminders in your phone, not just on the day of, but a few days before, so you can actually prepare. I set two reminders for every bill: one a week before it’s due and one three days before.

For birthdays and holidays, set reminders at the beginning of the month so you can budget for gifts and shop sales instead of panic-buying expensive last-minute gifts.

Here’s why this matters financially: Every late fee you pay is money you literally set on fire. A $35 late fee here, a $25 late fee there, that’s $720 a year if you’re late just once per month. That’s almost a month of groceries for most people!

Same with birthdays and events. When you plan, you can be thoughtful without being broke. You can make homemade gifts, catch sales, or find creative low-cost options. Last-minute shopping forces you into premium pricing.

I use Google Calendar for all of this, with colour-coding: red for bill deadlines, blue for personal events, green for payday. One glance tells me what’s coming and when I need to prepare.

10. Take On A 30-Day Challenge

Okay, this last one is more fun (and more challenging). Starting each month with a specific 30-day challenge can accelerate your financial progress and help you break bad habits.

Popular financial challenges:

No-spend challenge: Don’t spend money on anything except absolute necessities (rent, groceries, bills, gas) for 30 days. This is hardcore, but it’s incredibly eye-opening about how much you spend on non-essentials.

Cash-only challenge: Use only cash for discretionary spending. When the cash is gone, you’re done spending. This makes spending more tangible and real.

Cook-all-meals challenge: No restaurants, no takeout, no delivery for 30 days. You’d be shocked at how much money this saves.

Subscription pause challenge: Cancel all non-essential subscriptions for 30 days and see what you actually miss. Spoiler: it’s usually less than you think.

Daily savings challenge: Save a specific amount every single day for 30 days. Even $5/day adds up to $150 by month’s end.

Sell-something-daily challenge: Find one item to sell every day for 30 days. Declutter your space and make money.

Side hustle challenge: Commit to earning an extra $X through side hustles this month. Forces you to get creative about income.

Pick a challenge that addresses your specific financial weakness. If you’re an impulsive shopper, the no-spend challenge is perfect. If you blow money on food, the cook-all-meals challenge will change your life.

The beauty of 30-day challenges is that they’re long enough to form new habits but short enough to feel achievable. You’re not committing to forever, just one month. And often, after 30 days, you’ll want to continue because you’ve seen real results.

I’ve done the no-spend challenge three times, and each time I’ve saved an extra $600-800 that month. That’s not pocket change, that’s real money that went straight to my savings account instead of disappearing on random stuff I don’t even remember buying.

Final Thoughts

Look, I get it, managing money isn’t always thrilling. Some months you’ll crush it, others you’ll barely hang on. That’s normal. What matters isn’t perfection, it’s consistency. Financial success comes from steady monthly habits, not sudden windfalls or lucky breaks.

These 10 habits aren’t complex or reserved for finance majors. They just require showing up every month with intention, budgeting, reflecting, and planning. Start small: pick three habits for next month, master them, then build from there. Consistency compounds faster than you think.

Every new month is a chance to reset and improve. Your future, financially confident self is counting on you to act today. So go ahead, set that budget, review your bills, and plan your money moves like the boss you’re becoming.