Financial Checkup Checklist

Budget & Cash Flow Review

Calculate total monthly incomeList all monthly expensesIdentify areas of overspendingReview and adjust budget categoriesTrack spending for 30 daysSet up automatic savings transfersReview bank account feesOptimize checking and savings accounts

Emergency Fund Assessment

Calculate 3-6 months of expensesReview current emergency fund balanceSet emergency fund savings goalChoose high-yield savings accountAutomate emergency fund contributionsKeep emergency fund separate from other savings

Debt Management

List all debts with balances and interest ratesCalculate total debt-to-income ratioReview credit card statementsConsider debt consolidation optionsCreate debt payoff strategySet up automatic minimum paymentsReview credit reports from all three bureausCheck credit scores

Investment Portfolio Review

Review 401(k) and retirement account performanceAssess asset allocation and diversificationRebalance portfolio if neededReview investment fees and expensesIncrease retirement contributions if possibleConsider Roth IRA conversion opportunitiesReview beneficiaries on all accounts

Insurance Coverage

Review health insurance coverage and costsAssess life insurance needsReview disability insurance coverageEvaluate auto insurance coverage and ratesReview homeowners/renters insuranceConsider umbrella insurance policyUpdate beneficiaries on all policies

Tax Planning

Review previous year's tax returnMaximize tax-advantaged account contributionsConsider tax-loss harvesting opportunitiesReview withholdings and estimated paymentsOrganize tax documents and receiptsPlan for upcoming tax law changes

Financial Goals & Planning

Review short-term financial goals (1-2 years)Assess long-term financial goals (5+ years)Update retirement planning projectionsReview estate planning documentsConsider financial advisor consultationUpdate financial power of attorneyReview and update will and beneficiaries

Financial Security Measures

Review and update passwords for financial accountsEnable two-factor authenticationMonitor accounts for suspicious activityReview identity theft protectionOrganize important financial documentsCreate backup copies of important documents