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)