Your Financial Checklist
Updated: May 13, 2019
I have an exciting workshop I’m co-leading coming up November 28:
I’m also speaking at the PA Conference for Women and have led more than 10 workshops in the last few months including: Barnard College, Her Corner, Center For Family Justice, Corporations, Berkeley Carroll School and more If you want more information about bringing me to your organization, here is my list of topics. I’m still meeting with clients on an individual basis - send me an email for my calendar! In the meantime, I still use this financial checklist when I’m meeting with clients. It’s a great way to get started on what to tackle with your independent financial plan!
Your Financial Checklist
Check off the following boxes that you have accomplished. You may not be able to check everything off, but it will help you decide which areas of your personal finances to focus on. For the unchecked boxes, just try and complete one at a time. You don’t want to overwhelm yourself. This is especially important if you work for yourself, are a freelancer or entrepreneur.
- I have set a 6-month goal of where I want to be financially.
- I know approximately how much I spend on all my monthly bills.
- I know my fixed versus variable expenses.
- I know what debt I owe and to whom I owe it.
- If I have debt, I have set up a plan to get out and stay out of it.
- I have 6 - 9 months of monthly expenses saved for emergencies.
- I am automatically saving money (and/or investing) on a monthly basis.
- I have at least one credit card registered in my name – not with a joint partner or parent.
- I have run a credit report and know my credit score in the last 12 months.
- I am paying my bills every week.
- I have a percentage of my income deferred to a long-term retirement account (including 401(k), SEP IRA, and/or ROTH IRA).
- I am matching my investments with specific goals (i.e. saving for a house).
- I can easily locate paperwork for my investments, insurance policies, and home rentals or ownership.
- I know the total value of my net worth – as of the last quarter.
- I understand all the investments in my portfolio: non-retirement and retirement.
- I have done a checkup on my investments in the last 12 months.
- If I am self-employed, I have health insurance.
- If I rent, I have renter’s insurance.
- If I own a home, I know the current value, including size of the mortgage, amount of equity I’ve built and interest rate I am paying. Plus, I know what kind of homeowner’s coverage I have.
- I have an updated will, living will, health care proxy, trustee and guardian.
- If I have children or dependents, I have life insurance.
- If I have children, I am saving for their college education.
- If I have a net-worth over $1,000,000, I am focusing on estate planning.
- I have reviewed my will, insurance policies, and investments within the last 12 months.
- If I am self-employed, I have disability insurance.
- I am talking about money and sharing my money goals with my spouse, partner, parents, children and close friends.