How to Improve Your Finances and Your Running at the Same Time
I’ve always believed that measurement is the key to self-improvement, not just with my running but with nearly every aspect of my life. Measuring tells me exactly, at any given moment, where I am. With running, these include my VO2 max, my training paces, my latest race times, etc. Absent these GPS coordinates, I’m lost. Furthermore, tracking progress along the way yields data that I can mine for helpful trends and insights. Indeed, for me, numbers are as much the means as they are the end.
Personal finance is no different. Unlike many of my fellow CFOs, who prefer to leave their spreadsheets at work, I enjoy managing my own money. I monitor my balances regularly and have a good handle on the ebbs and flows, enabling me to maintain a fulfilling yet frugal lifestyle. Recently I took my measurement one step further: I recorded and categorized every single expense I’ve incurred so far this year, down to the penny.
I admit this was a laborious and nerdy task. (For those interested in replicating this exercise, I summarize the steps at the end of this post.) But my gut told me there was goodness to be gained by digging deeper. Lumpy and delayed payments, for example, can obfuscate baseline spending. And the seamlessness of paying through cash apps makes it dangerously easy to lose grip of the purse strings.
