The Monday Money Brief
December 22, 2025
What does it cost to be you?
I started working in 1991 (age 14) and money was never a topic that came up in conversation. Not in home, not in school, and not amongst my friends. Growing up, I learned that you work, make money, and buy the things you want and need. Life was simple and I never had a second thought about what it cost to be me.
At age 16, I bought a 1983 Mercury Lynx for $2,000 and paid $50 a week until it was paid off. I paid for my car insurance, a cell phone, a beeper (because everyone had a beeper in the 90’s) and any food that I bought outside of home. Yes, living at home at age 16 and working is great, but you don’t realize that until later in life.
I kept track of all my expenses in my check register, because this was before ATMs at every corner, before the iPhone or Androids, before budgeting apps, and we still wrote checks. I made sure that my checkbook was balanced and never went negative. Easy, right?
Budgeting Considerations
For those new to personal finance, perhaps you may not be aware of the various types of budgeting methods. A simple search online will reveal a library full of methods and then reveal the best method for your consideration. This article is not about comparing budget methods or supporting one over the other. Instead, the focus of this article is to share how I have transitioned my own personal finance over the years and how that led me to learn what is cost to be me.
College Years
No budget. I worked 40+ hours a week while going to college, so it took my seven years to graduate, but I did it with no student loans. I went to class, studied, worked, slept, and then did it all again for those seven years. Everything was in my checkbook register and I balanced it by calling the bank to see which checks had cleared. Not once did I plan or think about a real budget. I just made sure that I had enough to cover any check I would write but did no forecasting or analysis.
Early Professional Years
I first learned about personal budgeting from my father-in-law back in 2003. I was two years into my career (and two years married) and had never created a budget before then.
As noted above, there was no real need because life was simple living at home, working, and going to college. Once you get into the real world, things change. Rent, Utilities, Internet, unexpected expenses, etc., etc.
By the time I started learning about a personal budget, I realized that I was living beyond my means. I was spending more than my income and then using that nasty six-letter word: credit. Since I wasn’t actively planning or monitoring my expenses for the first two years of my career, I had no idea that I was overspending. If you don’t measure, then you can’t improve. I had no idea what I was doing or needed to do.
In these early years, I graduated from a handwritten checkbook to Excel. I still have the files from those early years. 2003 until now. Each year, I learned a little more and the spreadsheet advanced, along with my ability to plan. Just like anything else, you suck at first, and then learn, and improve.
Had I not started to learn about budgeting, I could have carried on blindly, making my situation worse. This is why it is so important to track your expenses and know your numbers. I cannot emphasize this enough. It doesn’t matter how you budget, what tool or app you use, but budgeting is what matters.
Current State
Today, I still have my spreadsheets out of habit. Mainly, I use the spreadsheets for quick scenario planning. Yes, the spreadsheets have advanced, but the concepts are still the same and simple. Spend less than you make, save, and invest. Easier said then done, especially when there is no budget.
Although I maintain my Excel file, I have adapted to the 21st century and utilize an app to track every single account. For 10 years, I used Mint (now Credit Karma, owned by Intuit), which I absolutely loved, but then they were acquired by Intuit.
In 2024, I switched to Monarch, and I absolutely love this app just as much as loved Mint. Yes, it comes with an annual fee; however, that is a fee I am willing to pay (and budget for) because of the benefits I get from this app.
- Setup is easy & the app is straightforward.
- I can track every single account I have.
- Automated notifications and calculations of multiple financial factors
The thing I love the most is the built in calculations for net worth and cash flow. Instantly, I can see my progress daily and see when I need to make adjustments. Since everything is connected, there is no reconciliation. The app displays every transaction on every account and notifies you when any changes take place.
No, I am not affiliated with Monarch and I do not get any payment from the company. I honestly just love the app and use it every single day.
Know Your Numbers
The reason I shared so much detail about Monarch is not to convince you to buy it, but to demonstrate what an app can help you achieve. It doesn’t necessarily need to be an app to demonstrate what is cost to be you. You can always figure out all this information manually, and sometimes that makes it more real. Learning to run through your numbers and truly track every dollar from when it enters to when it exits. Bottom line, you must know your numbers.
Next Steps
If you have no idea what is cost to be you, then a simple way to find out is to get an app that tracks your expenses and connect all current accounts. After a few months, the app will provide you with all the information you need to make decisions.
Alternatively, you can start simple and download any free budgeting template to get you started. Pick one that you like and understand and then make it your own. I don’t have the perfect solution, but I have a solution that works for me. That’s all you really need.
Keep navigating your financial future!