The beginning of a new year is the perfect time to take stock of your finances and get everything in order. Wait too long, and it will be tax season before you know it. This checklist should help you cover all the essentials.
Photo by Liz West.
This list, from personal finance site Financial Samurai, exhaustively covers even the most complex personal finance situations. If you don’t have any investments or savings, you might have less to review (but maybe that’s something you might aim to change in the new year!). However, the list covers every area of your finances, including examining your income streams, reviewing how your investments have performed, adjusting your savings rate, updating your plan to reduce your debt and reviewing your insurance policies.
The list also covers a couple meta-finance topics like work-life balance and relationships. Because let’s be real, it’s not all about the numbers. While some of the elements on the checklist is US-centric, the vast majority applies to Australians too. Check out the full list at Financial Samurai’s site below.