10 thoughts on “4 R’s – Reconcile, Redeem, Reinvest, REPEAT!

  1. Making a habit of reinvesting your money is absolutely key.
    I try to be always prepared in terms of discovering investment opportunities so if money comes, I’ll invest immediately.

    1. I’m sure you’ve heard the saying that failing to prepare is preparing to fail. It’s good to do research beforehand because when you do find an investment opportunity and you don’t have the funds in total, it gives extra motivation to save more to achieve your deployment goal.

  2. I feel like I am constantly tinkering with my reconcile system. I am an optimizer by nature. So I like seeing what systems are out there and how I can do better. So it’s really fun playing around with the tools to see how I am doing with my budget and see what recommendations various programs say I can do to optimize it even further 🙂

    1. Me too! I have an account with Personal Capital (love the net worth screen) and it’s saying that I may be paying high fees in my 401k plan. But I already know that because it’s a targeted date fund that reallocates investments as you near retirement age, so I’m not sure if it is worth it for me to reallocate such a large part of my savings towards my retirement myself. The thought makes me very nervous.

  3. I’m loving these R’s. I’m not a terribly frugal person, but I’ve found that habits make so many financial things almost effortless. I always reconcile my accounts on Wednesdays and since it’s just a part of my routine I hardly have to think about it (how’s that for knocking out two R’s at once?).
    Ugh-the amazon redemption from Chase now. I did it once right after they changed the policy from getting the full reward to the 80%(something like that?) and was so mad that I hadn’t noticed it. So silly that they did this.

    1. I do mine on Fridays just out of habit and I guess it makes me feel like more accomplished going into the weekend, lol. Yes you gotta be careful and read what you’re actually getting from some of these reward programs. I usually just account credit because what they offer in terms of products I most likely won’t use anyway.

  4. I think these are such simple and obvious steps for people to take, yet they are somehow overlooked. As you posed your question, you kind of make the point that everyone has something different that works for them (maybe people redeem more often, reconcile less often, etc.) but it is important to be doing these things.

    My husband and I reconcile monthly in excel (but do informal checks multiple times a month).

    I used to redeem my points once a year at Christmas time, but now with everything joint, we are saving our points towards a big vacation in 2018 and we’ll see what the future holds.

    Reinvesting is down in multiple ways. We have our dividends reinvested in our investments and I have rolled over my 401ks with every job I’ve had or at least reinvested into a separate IRA on my own when not allowed.

    1. Wow, you are covering everything, nice work! I use excel too because it is so flexible and I can insert notes and comments. Sometimes expenses are so on off and unique I won’t even remember the next time I look at my excel sheet, which could even be a couple days later, lol.

  5. Everything in the personal finance and improvement world has a piece about continuous improvement, the repeat in your list. You not going to make it perfect the first way through and there will always be opportunity to improve.

    1. So true! I’ve learned so many ways to improve my own personal finance situation by just reading on other websites and bouncing ideas from here and there. When I make a lot of changes to my budgeting sheet I save a new version though just in case I need to go back and see if something needs to be changed back :-).

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