Why you should have your money on a weekly cycle

If you want to feel instantly better about your personal finances, then try this one simple hack.

It's remarkably simple, costs you nothing and could actually save you a ton of stress around your money...

Q. What is this miracle cure?

A. Pay yourself and all of your bills on a weekly cycle!



It's how we set up our clients Smart Banking Systems and it seems to work like a charm for everyone.

Let me run you through some of the best benefits of the weekly money cycle and why we love it so much. 


#1. You get paid on whatever day of the week you choose!

I personally like to get my weekly allowance on Fridays.

If you could choose any day of the week to get paid, what day would it be?

Some of my clients choose Mondays. Some choose Sundays.

I like to top up my Life Account on a Friday so that if I go out over the weekend, I know I have more than enough to roll with my friends for as long as I want to.

Which day of the week you would like to get a spike in your bank balance? 



#2. It's a consistent 7 day cycle (vs the variable monthly cycle)

So many of my corporate clients get paid every month. Often on the 15th. 

There's always 7 days in a week but a month is not only too long to grasp, but it changes all the time. How can you build a good habit that only occurs once a month?

Think about it.

You have good daily habits that you love and you work hard to keep them up.

You have good weekly habits that you have also worked hard over the years to build and maintain.

But monthly? I can't think of many habits I have, that I manage to keep up each month. Well, I do tend to get a haircut once a month, but I wouldn't call that a good habit.

Making sense yet?

It does. It makes dollars. And that's what we want.

Are you in?


#3. Multiple micro steps feel great and make you nicer!

If you're doing your money well, then you've probably got a collection of goals that you're saving for. 

Making smaller weekly deposits toward those goals feels better, creates more momentum and builds your belief that you will be rewarded in the future.

This has a multiplying effect in your life as it makes you more excited about your future and therefore you'll tend to:

  • Feel more positive and be a nicer person
  • Behave in a more productive way and therefore achieve more
  • You'll attract more abundance into your life as you'll be sharing good vibes with those around you, which in turn ups the caliber of the people you have in your immediate life

 So not only are you more likely to get your big life goals with a weekly strategy, but you'll tend to have more belief in yourself and create a better life.


#4. It lines up with the rest of human life

We are creatures of habit. So much of what we do is unconscious and so many of our habits have been formed over many years.

Our cycle is weekly for so many other parts of our life:

  • My bin night is every Thursday
  • Your favorite new Netflix episode is released each Monday
  • You go to church every Sunday
  • You go for drinks with your mates on Friday nights
  • Sports on Saturday mornings
  • In Australia, many of us pay rent weekly
  • Most of us go to the supermarket weekly

 So why not manage your money weekly too? If you set up all of your transactions to be weekly, then once a week you would find yourself logging in and checking that everything is looking good.

Well that's what our Smart Banking System clients do. One 10 second glance, once a week is all it takes to know all is well with their money. It's a game changer!


#5. You feel less rich and don't waste as much money

This is probably the main benefit of the weekly cycle.

If you're currently being paid monthly, then I'm sure you can appreciate the frivolous behavior that can turn up on pay day. Drinks with friends and buying a new dress could be a couple of examples. 

When our bank balance is high, we tend to spend more. When it's low, we tend to hold back.

Money and being able to afford something is always a percentage consideration:

If I have $3,000 in my bank account, then spending $300 on a new pair of shoes isn't so bad (10%).
If I have $300 in my bank account, then a $300 pair of shoes is much harder to buy (100%)
The only thing that changed was the bank balance. But this simple strategy works. It's a big part of money management.

Hence, paying yourself weekly has an added benefit of keeping your brain tricked into thinking that you're always too poor to buy stuff. And over the years, that small change in behavior can end up saving you a small fortune.



Ok that's all great. But How do you do it?

The system I teach uses a collection of free bank accounts and a series of finely tuned automated payments (plus a lot of money psychology).

There's accounts that are hidden and accounts that are coded to be the first balances you see when you log into your banking.

They all, always operate on a simple weekly cycle. They enable you to totally automate and forget about the management of your finances, so you have more time to work on yourself and the problems in your life and community.



So if you're one of the many people out there who get's paid monthly, then here's a simple idea on what you could do to change that to weekly:

How to do it: 

  1. Open up a new bank account and get your monthly wages paid into this new account.
  2. Then calculate what your pay would be weekly:
    (monthly salary x 12) / 365 x 7 = your weekly pay
  3. Set up an automated payment from the new salary account that sends the weekly amount into your spending account on whatever day of the week you choose :-)


Does this sound like what you'd like to do? Can you see any issues in this structure?

We would love to know what you think! 


NOTE: In our Smart Banking System, everything is set up to be weekly. Including bills, tax, allowance, goals, investing and so much more.


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