Worrying about money is the actual worst. What it does to you physically and mentally sucks even more. According to findings reported in Social Science and Medicine, financial stress can cause depression, anxiety and hypertension. But you know how even the shortest daily workouts do the mind and body good? Well, the same rule applies to your bank account. We tapped certified financial planner Pamela Capalad* to create an easy routine to whip your wallet into shape in seven days. C’mon, get after it!
ID your spending habits
Ask yourself: Are you an impulse shopper? A savings hoarder? A high-risk investor? ‘If you understand your relationship with money, you can figure out how to make it work for you,’ says Capalad. (If you have trouble identifying your habits, sites like Moneyharmony.com offer free surveys that help reveal your money personality.)
Assess your money diet
Dedicate a few hours – and, let’s be real, a glass of vino – to sorting through your last three months of spending. Divide your expenses into categories with an app (see breakout) or by hand, if you’re old school. Ignore non negotiables like rent, utilities and insurance, and concentrate on discretionary spending. Name columns things like dining out, clothing, entertainment, self-care, splurge and unexpected.