This weekend, as I sat with my husband reviewing our expenses, we found two charges we didn’t recognize–and we initiated refunds for both. Although I am an Accredited Financial Counselor® (AFC®), I am sharing my personal experience, not professional advice. For me, it was a reminder of how important it is to review statements alongside our budget regularly so we can catch things like this early. Here is how we approach it as a family.

The first thing we did was gather our tools: our Chromebook and my cell phone. I log into our bank apps on my phone to review our bank statements, while my husband pulls up Credit Karma on the Chromebook. We do this monthly. Together, we verify that transactions are categorized correctly–groceries, shopping, utilities, rent, and with our recent traveling, travel, etc.–and talk through what each expense was for and who made it. We also compare our actual monthly spending with our income. This time, that process helped us uncover those unexpected charges, which I disputed with the vendors and requested refunds for.

Why does this matter? For one, it helps us make sure our credit cards haven’t been compromised. But it also gives us a clearer picture of where our money is really going. As a military family, we have learned that our budget needs to be flexible. For example, this month we traveled for the transition assistance class. I have experienced times of un- or under-employment. We have had emergency expenses with rental properties. Reimbursements for moving costs don’t always cover everything. By reviewing statements and expenses regularly, we can catch problems before they snowball–and spot areas where we might be able to cut back.

Sometimes we ask ourselves: “Are we really using this service enough to justify the cost?” Or “are we overspending in certain categories?” These questions guide our conversations. While we review our budget monthly, others might prefer to check bi-weekly or weekly. For us, the bank apps provide useful charts we can compare with our income, and we cross-reference with Credit Karma. That is the system that works best for us, but there are plenty of options. For example, the Navy-Marine Corps Relief Society offers a budget spreadsheet, and websites provide free templates. The USDA even has a food plan that can help with grocery planning.

A couple of weeks ago, in Weathering Our 2025 Emergency Fund Journey, I shared that we tapped into our emergency fund for the rental property repairs. In that post, I also referenced Fidelity’s “50/15/5: An easy trick for saving and spending,” which shared its suggested rule of thumb: 50% of income should be used on “essential” expenses, 15% for retirement savings, and 5% for short-term savings. Tips like this can provide peace of mind when setting up or revisiting a budget.

I would love you hear from you: Do you have a regular process for reviewing your budget? How do you balance projected versus actual expenses–and do you keep a cushion for emergencies? Have you caught unexpected charges?

Originally published on LinkedIn on September 1, 2025. [Read it here]