{"id":5062,"date":"2016-05-04T13:50:33","date_gmt":"2016-05-04T17:50:33","guid":{"rendered":"https:\/\/www.afcpe.org\/?p=5062"},"modified":"2019-04-23T15:44:22","modified_gmt":"2019-04-23T19:44:22","slug":"daily-due-diligence-d3","status":"publish","type":"post","link":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/","title":{"rendered":"Daily Due Diligence (D3)"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Author\u2019s note:<\/strong>\u00a0While recently counseling a soldier I discovered the conversation of investing was completely overridden by an ignorance of the \u201cbasics\u201d \u2013 \u00a0monthly budget adherence and awareness of where their money was really going.\u00a0 Hence the back to the basics discussion of daily (okay, weekly or monthly) due diligence was born.<\/em><\/p>

Feast or Famine:<\/strong>\u00a0 Finances are a significant part of everyday decisions.\u00a0 Often, our money is only given intentional thought during\u00a0urgent<\/em>\u00a0times of the year \u2013 taxes, holidays or vacations \u2013 paired with the moments when life forces us to evaluate our finances emergently \u2013 a family emergency or a flat tire. The suggestion is daily due diligence (D3TM<\/sup><\/sub>), working on a piece of our finance puzzle regularly.\u00a0 Just as a diet or exercise requires daily effort, the thought that our finances do too should not seem shocking.<\/p>

Case in Point:<\/strong>\u00a0How many have created a household budget only to it file away? The price of gasoline can change daily. However, the budget we created once upon a time does not reflect this.\u00a0 Our budget should\u00a0NOT<\/strong>\u00a0be a static document, but one that mirrors the myriad of life events.\u00a0 How many financial counselors have experienced the answer; \u201cI really don\u2019t know how much I spend on__________.\u201d?\u00a0 If creating a budget is the universal starting point when taking control of our finances, then the flexible classifications should be as accurate as possible.<\/p>

The task of D3TM<\/sup><\/sub>\u00a0could seemingly be an unwelcome addition to our already full daily lives.\u00a0 A simple suggestion for making this necessity more manageable follows:<\/p>

Track one item of significant expense a month.<\/p>

First month\u2019s challenge:<\/strong>\u00a0How much do you actually spend on groceries?\u00a0 What is our household definition of groceries? \u00a0Is this only the food our family consumes or does this include shampoo and dog food?\u00a0 In our budget, where is our daily cup of commute coffee located? Is it categorized groceries, eating out or not at all?\u00a0 Saving our receipts (even a cash purchase) for one month and totaling is not hours of contemplation. If groceries are already an expense that is a realistic number within your household, then try tracking total gasoline expense. The results may be surprising.\u00a0 Psychologists have long espoused the theory that \u201cawareness of a behavior can create change\u201d.<\/p>

The impetus for simple D3TM<\/sup><\/sub>\u00a0is to override the common feeling of \u201cmy money controls me\/my decisions\u201d, and replace them with \u201cI control my money.\u201d\u00a0 D3TM<\/sup><\/sub>\u00a0has the potential to open discussions of spending within a household, teach our children the beginning basics of money handling and most importantly, create a feeling of control, ownership, and peace of mind.<\/p>

In future articles, I want expand on some D3TM<\/sup><\/sub>\u00a0techniques.\u00a0 Please share your suggestions and thoughts on regular financial maintenance.<\/p>

Guest Contributor:\u00a0Heather Baker, AFC\u00ae<\/sup>,\u00a0FINRA Foundation Military Spouse Fellowship Program Assistant<\/em><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

May 04, 2016<\/span><\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Author\u2019s note:\u00a0While recently counseling a soldier I discovered the conversation of investing was completely overridden by an ignorance of the \u201cbasics\u201d \u2013 \u00a0monthly budget adherence and awareness of where their money was really going.\u00a0 Hence the back to the basics discussion of daily (okay, weekly or monthly) due diligence was born. Feast or Famine:\u00a0 Finances are a significant part of […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[42,24,1],"tags":[],"class_list":["post-5062","post","type-post","status-publish","format-standard","hentry","category-budget","category-financial-education","category-uncategorized"],"acf":[],"yoast_head":"\nDaily Due Diligence (D3) - AFCPE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Due Diligence (D3) - AFCPE\" \/>\n<meta property=\"og:description\" content=\"Author\u2019s note:\u00a0While recently counseling a soldier I discovered the conversation of investing was completely overridden by an ignorance of the \u201cbasics\u201d \u2013 \u00a0monthly budget adherence and awareness of where their money was really going.\u00a0 Hence the back to the basics discussion of daily (okay, weekly or monthly) due diligence was born. Feast or Famine:\u00a0 Finances are a significant part of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/\" \/>\n<meta property=\"og:site_name\" content=\"AFCPE\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-04T17:50:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T19:44:22+00:00\" \/>\n<meta name=\"author\" content=\"Rachael Deleon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rachael Deleon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/\",\"url\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/\",\"name\":\"Daily Due Diligence (D3) - AFCPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.afcpe.org\/#website\"},\"datePublished\":\"2016-05-04T17:50:33+00:00\",\"dateModified\":\"2019-04-23T19:44:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.afcpe.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Daily Due Diligence (D3)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.afcpe.org\/#website\",\"url\":\"https:\/\/www.afcpe.org\/\",\"name\":\"AFCPE\",\"description\":\"Association for Financial Counseling & Planning Education\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.afcpe.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8\",\"name\":\"Rachael Deleon\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.afcpe.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g\",\"caption\":\"Rachael Deleon\"},\"url\":\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/author\/rachael\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Daily Due Diligence (D3) - AFCPE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/","og_locale":"en_US","og_type":"article","og_title":"Daily Due Diligence (D3) - AFCPE","og_description":"Author\u2019s note:\u00a0While recently counseling a soldier I discovered the conversation of investing was completely overridden by an ignorance of the \u201cbasics\u201d \u2013 \u00a0monthly budget adherence and awareness of where their money was really going.\u00a0 Hence the back to the basics discussion of daily (okay, weekly or monthly) due diligence was born. Feast or Famine:\u00a0 Finances are a significant part of […]","og_url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/","og_site_name":"AFCPE","article_published_time":"2016-05-04T17:50:33+00:00","article_modified_time":"2019-04-23T19:44:22+00:00","author":"Rachael Deleon","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Rachael Deleon","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/","url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/","name":"Daily Due Diligence (D3) - AFCPE","isPartOf":{"@id":"https:\/\/www.afcpe.org\/#website"},"datePublished":"2016-05-04T17:50:33+00:00","dateModified":"2019-04-23T19:44:22+00:00","author":{"@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8"},"breadcrumb":{"@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/daily-due-diligence-d3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.afcpe.org\/"},{"@type":"ListItem","position":2,"name":"Daily Due Diligence (D3)"}]},{"@type":"WebSite","@id":"https:\/\/www.afcpe.org\/#website","url":"https:\/\/www.afcpe.org\/","name":"AFCPE","description":"Association for Financial Counseling & Planning Education","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.afcpe.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/ccae601ec179bf73fabbf4b3c6f688f8","name":"Rachael Deleon","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.afcpe.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ab24a29c7aadc1652d9f81f409950cf6cba10ad20c158ceaad83e8b44bbf2b4a?s=96&d=mm&r=g","caption":"Rachael Deleon"},"url":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/author\/rachael\/"}]}},"_links":{"self":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts\/5062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/comments?post=5062"}],"version-history":[{"count":0,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/posts\/5062\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/media?parent=5062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/categories?post=5062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afcpe.org\/wp-json\/wp\/v2\/tags?post=5062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}