I agree with everyone - schedule your weigh in's around what works for you. Oddball that I am

I have found I actually weigh a little less in the afternoon when I get home from work than I do first thing in the morning

Just be careful not to let yourself get too obsessed with weighing all the time.
As far as the monthly goal? That's another area that is kind of individual. If you're like PhotoChick and get too frustrated when you set time limits then it's not a good idea for you but, if you are the type of person who needs to see that 'finish line' to be able to run your hardest, that might be the way to go. You do need to keep in mind though that the closer you get to goal the more slowly the weight will come off. I lost 2 lbs a week pretty steadily for a while when I first started out and got kind of attached to that number (I went so far as to go through my day planner and jot down what my weight should be on certain dates based on that 2lbs a week

). Then when things slowed down to some weeks with no loss at all and some weeks with less than half a pound, it was quite the mental hurdle for me to get over; and I had to reconvince myself that I was still getting there, just more slowly. I'm now back to being happy with my progress and count weeks with no gain as being just as rewarding as those weeks when I lost.