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Financial Plan Checklist

4.8/5 with 369 votes
Table of Contents

Introduction

Our Financial Plan Checklist is designed to help you navigate your financial landscape effectively. From emergency funds to retirement savings, this template outlines essential steps to secure your financial future. Utilize our Checklist App to customize your plan, track progress, and collaborate with others. Whether you're saving for a big goal or managing debt, this checklist will keep you organized and focused. Click Save to begin optimizing your financial strategy and ensure you're on the right path to achieving your goals.
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Toggle Plan for Emergencies First status

Plan for Emergencies First

Toggle Start setting aside 5-15% of your income. status

Start setting aside 5-15% of your income.

Toggle Save enough to sustain your basic needs (utilities, groceries, and rent) status

Save enough to sustain your basic needs (utilities, groceries, and rent)

Toggle Deposit this income into a money-market or dedicated savings account status

Deposit this income into a money-market or dedicated savings account

Toggle This money can cover unexpected necessary expenses, like car damages or crucial home repairs. status

This money can cover unexpected necessary expenses, like car damages or crucial home repairs.

Toggle Plan for Retirement Second status

Plan for Retirement Second

Toggle Start by setting aside at least 3% of your income. status

Start by setting aside at least 3% of your income.

Toggle If you are self employed, opt for an IRA. status

If you are self employed, opt for an IRA.

Toggle If your employer contributes to your retirement, put enough cash in your 401(k) to get the total matched sum. status

If your employer contributes to your retirement, put enough cash in your 401(k) to get the total matched sum.

Toggle Don't touch this money for other purposes, like college funds, ;maintenance ;repairs or extra expenses. status

Don't touch this money for other purposes, like college funds, ;maintenance ;repairs or extra expenses.

This cash is off limits until you're in your golden years!
Toggle Allow 3 months to get used to your slightly smaller paycheck, and keep squirreling away for security status

Allow 3 months to get used to your slightly smaller paycheck, and keep squirreling away for security

After 3 months move on to step three.
Toggle Pad your Emergency Fund Third status

Pad your Emergency Fund Third

Toggle You should have saved 3-6 month's worth of living expenses by this point. status

You should have saved 3-6 month's worth of living expenses by this point.

Toggle If your income is comission-based or is freelance, you may need to stash away more (6-9 months, for example). status

If your income is comission-based or is freelance, you may need to stash away more (6-9 months, for example).

Toggle Use any financial windfalls wisely status

Use any financial windfalls wisely

If you can, use bonuses or tax refunds to top off your emergency fund.
Toggle Be prudent with your purchases, and monitor your spending to determine where you can cut back. status

Be prudent with your purchases, and monitor your spending to determine where you can cut back.

Toggle Clear Credit Card Debt Fourth status

Clear Credit Card Debt Fourth

Toggle Don't touch your retirement or emergency funds for debt payment status

Don't touch your retirement or emergency funds for debt payment

You will need those for later, and you don't want to create more debt.
Toggle Make a list of all credit card bills. status

Make a list of all credit card bills.

Toggle Pay off the bill with the highest rate first status

Pay off the bill with the highest rate first

Progress down the list this way, ending by paying off the card with the lowest rate.
Toggle Transfer balance from a high-rate card to a low-rate card if possible status

Transfer balance from a high-rate card to a low-rate card if possible

Contact your bank for details.
Toggle Bump Up Retirement Savings Fifth status

Bump Up Retirement Savings Fifth

Toggle Retirement savings should be your #1 priority! You can always borrow for other expenses, but not for retirement! status

Retirement savings should be your #1 priority! You can always borrow for other expenses, but not for retirement!

Toggle Use a retirement savings calculator to determine how much you should boost your retirement fund per month status

Use a retirement savings calculator to determine how much you should boost your retirement fund per month

This depends on your current age, amount of savings you have now, and your estimated costs for life in retirement.
Toggle Maximize Savings status

Maximize Savings

Save the highest legal amount you can annually. That's $16,500 for a 401(k) and $1,000 ;for an IRA.
Toggle If you've been scoring your target for over a year, you can move onto the next step. status

If you've been scoring your target for over a year, you can move onto the next step.

Toggle Accomplish Other Financial Goals Sixth status

Accomplish Other Financial Goals Sixth

Toggle Clearly outline your savings goals and plan a budget status

Clearly outline your savings goals and plan a budget

Maybe it's saving for a college fund, or paying off your ;mortgage.
Toggle Start saving the appropriate sum each month until you reach your target. status

Start saving the appropriate sum each month until you reach your target.

Toggle If you have several financial goals, keep savings in seperate accounts to differentiate between the funds. status

If you have several financial goals, keep savings in seperate accounts to differentiate between the funds.

Toggle Choose and Invest Wisely status

Choose and Invest Wisely

For college tuition, saving can be tricky because of so many shifting factors. You'll want a more structured savings plan. For paying off loans, keep funds liquid and stable in a CD or interest-earned checking account. Saving cash for a yacht in retirement? It's ok to invest a portion in the stock market...just play carefully!

Download or Print this Financial Plan Checklist

Get a printable version of this checklist in your preferred format: PDF, Word, Excel, or print directly from your browser.

Download PDFDownload WordDownload Excel

Presented by:

Lauren Meir

Lauren Meir
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PersonalPersonal FinanceFinanceInvesting

Details

Budget wisely and plan for the future with our Financial Plan Checklist. Retirement may be a long way off, but it's never too soon to start saving. Get your finances in order, have an emergency fund and clear all credit card debt. Set your savings up right and you could be living the easy life down the road!

Who it's for

This Financial Plan Checklist is for anyone who wants a simple, practical way to get things done without missing steps.

  • Avoid forgetting - keep all your Financial Plan essentials in one place (external memory)
  • Save time - start from a proven Financial Plan structure instead of a blank page
  • Stay on track - track progress, come back later, and keep momentum
  • Coordinate with others - share the list and divide responsibilities
  • Learn the process - follow the steps in a sensible order, even if it's your first time

How to use it

How to use this Financial Plan Checklist

  • Save Financial Plan Checklist to your free Checklist account so your progress is saved and synced across devices.
  • Customize it in the app: remove anything that does not apply, then add your own details for Financial Plan (dates, sizes, addresses, notes).
  • If others are involved, invite them to collaborate and divide responsibilities.
  • Work through the list: check items off as you go, and set reminders for time-sensitive steps.

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Scores 4.80 with 369 votes

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