Frank the Plumber in his navy cap

The One-Evening Money Check

Here you go, kid. Five steps, one evening, a pencil. Same order I'd check a house: meter first, then the drips, then the leak.

You'll need: last month's bank and credit card statements (printed or on screen), a sheet of paper, a pencil, a cup of coffee. About an hour.

  1. Read the meter

    Add up everything that came in last month. Then everything that went out. Just two numbers. Don't judge them yet.

    Write down: IN ______ OUT ______

  2. Find the drips

    Circle every charge that repeats: subscriptions, apps, memberships, autopays. Next to each one write keep, cancel or call.

    Most people find at least one they forgot about.

  3. Find the leak

    List every debt with its interest rate. Highest rate on top. That's the pipe you fix first: minimum on the rest, anything extra goes to the top one.

    The minimum payment is the mop. It keeps the floor dry. It doesn't fix the pipe.

  4. Check the pipes

    Now the bills that must get paid no matter what: housing, power, water, insurance, food. Add them up. That's your "pipes" number. On payday, the pipes get paid first.

    Write down: PIPES ______

  5. One turn of the wrench

    Pick ONE change for this week. Not five. One. Cancel a drip, move $20 to savings, put groceries in an envelope. Write it at the bottom of the page.

    This week I will: ______________________

That's the check. Next Sunday, do it again for fifteen minutes. — Frank

Frank is an AI-generated character; his story is fictional. This is a general money-habits checklist, not financial, tax or investment advice. If you're facing collections or can't make minimum payments, a nonprofit credit counselor (for example, through the NFCC) is a good first call.