Just like your vehicle your finances need continual maintenance. Wouldn’t it be wonderful if there was a simple checklist out there to help keep you on track with your financial maintenance? Well, now there is!! Below is a simple and easy to use “My Money Checklist” with Daily, Weekly, Monthly, Quarterly, Annual, Two & Five Year to-do lists. Download our PDF version by clicking here.

 

MY MONEY CHECKLIST

The fourteen areas of your money life

  1. Money habits of mind

  2. Goals and strategies

  3. Current cash flow

  4. Future cash flow

  5. Planning for big ticket items

  6. Current net worth

  7. Liquidity

  8. Risk Management

  9. Financial independence

10. Estate planning

11. Income tax planning

12. College funding

13. Investment planning and management

14. Aligning work with your essence and passion

 

Daily

  • Be present in the now (point 1: money habits of mind)
  • Express gratitude for what is
  • Release and attract
  • Affirm your goal

 

Weekly

  • Hold a money meeting, with your partner if you have one, by yourself if you do not
    • Your agenda:
      • What came in this week? (point 3: current cash flow)
      • What was the source of our spiritual food?
      • Tithing check prepared
      • Check to yourself prepared for your savings plan
      • How much is in the bank?
      • What are our credit card obligations?
      • How much is in our intentional savings for big ticket items? (point 5: planning for big ticket items)
    • What is coming up in terms of cash requirements?
    • What changes do we need to make if any?
    • What agreements do we need between us?
    • Gratitude
    • Write this information down and put it in a binder for your reference each week.

 

Monthly

  • Reconcile your check register to your bank statement. Spend a few minutes noticing where your money came from and where it went ( point 3: current cash flow)
  • Check-in with yourself.  If you feel off track, journal to find the old money habit of mind that is blocking you.

 

Quarterly

  • Review your portfolio and the status of your
  • Educational savings (point 12: college funding)
  • Financial independence (point 4: future cash flow)
  • Compare your savings to your plan for
    • Educational savings (point 12: college funding)
    • Financial independence (point 9: financial independence)
  • Determine if you need to adjust your current spending based on your savings compared to plan (points 3 and 4: current and future cash flow)
  • Rebalance your portfolio (point 13: investment planning and

      management)

 

Annually

  • Review your emergency fund to determine if it is still three months of your spending. (point 7: liquidity)
  • Prepare a Statement of Financial Condition (point 6: current net worth)
  • Revisit your goals and strategies
  • Review your income taxes in the fall and make any changes needed to reduce your taxes (point 11 : income tax planning)
  • Review your credit report (point 6: current net worth)

 

Every two years

  • Review your insurance needs and policies (point 8: risk management)
  • Reassess who you are with your work (point 14: aligning your essence and passion)

 

Every five years

  • Update your will and estate plan (point 10: estate planning)