The premise is good, the reality won’t help you at all.
Although dedicating a personal finance day once a month sounds like a good idea, the truth is, you probably need to watch your spending (and saving) patterns much more frequently to do you any good. A single day dedicated to get “everything done at once” is not realistic nor practical.
Think about it for a moment…
Would you wait an entire month to exercise one day a month?
Would you wait an entire month to clean your house just one day a month?
Would you wait an entire month to do your grocery shopping once a month?
Would you wait an entire month to visit or connect family or friends?
Would you get better at your golf game if you played just once a month?
Good habits are not maintained from doing anything infrequently. Although good habits can and should start small, they need to be ingrained over time – that requires some form of frequency or repetition.
Financially, you can do considerable damage by limiting the understanding of your spending or saving patterns to a few times per year. The big night out, the huge Costco run, the unexpected house or car repair. Life happens and you should be on top of it.
Instead of waiting for an entire month to get your financial act together, pick a few minutes every few days to check on things. I would suspect monitoring your expenses (and savings!) at least once per week is a good habit to aspire to (and this doesn’t need to take hours). Most of us perform at least online or telephone banking nowadays; it’s not that difficult to look up a variety of accounts online just like your Facebook or Twitter feed. (Don’t forget to subscribe to my feeds by the way.)
Having a personal finance day is nice in theory but really bad in practice. Please don’t assume you’ll get better at anything if you barely do it at all.