Your Financial Checklist

by Galia Gichon on August 11, 2010

I am told over and over that I help clients simplify their finances into bite size pieces that allows them to move forward and make smart money moves.  I wanted to share a Money Affirmation and Financial Checklist from my “My Money Matters” kit. If you feel stuck, just focus on saying the affirmation every day for the next week. See what happens with your money. Then use the Financial Checklist to make sure you are in great shape or to figure out what area you should work on.

Your Daily Money Affirmation
I’m a big believer that we have gotten ourselves into trouble with our money because we don’t talk enough about our positive money habits and strengths. Your homework is to say this money affirmation everyday for the next week. Even if you don’t believe it, it will start to resonate with you in no time!

“I am an Active Participant in My Finances”.

You can find many more money affirmations on beautifully illustrated cards for display at the “My Money Matters” kit, as seen in the NY Times.


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.


* I know approximately how much I spend on all my monthly bills.
* 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 3 – 6 months of monthly expenses saved for emergencies.
* I am automatically saving money (or investing) on a regular basis.
* I have a percentage of my income deferred to a long-term retirement account (this includes 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.
* I have at least one cre.dit card registered in my name – not with a joint partner or parent.
* 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.
* 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.

Get the complete “My Money Matters” kit (26 money affirmations, 100+ money tips and 7 workbooks) HERE!

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