MONEY MANAGEMENT CHECKLIST

1.)        I/we have a plan for monthly spending.
(Use menu on left: Consumer Tools: Budgeting and Planning)

2.)        Less than 20% of my/our monthly net income is used for consumer debt i.e. credit cards, personal loans, etc. 
(Use menu on left: Consumer tools: Managing Credit & Debt; or go to marshallmoney.org homepage and click on question 3)

3.)        I/we have a bank account(s) i.e. checking, savings, etc. for handling money.
(Use menu on left: Financial Resources: Banking & Savings)

4.)        I/we have short and long-term savings goals.
(Use menu on left: Financial Resources: Banking & Savings)

5.)        I/we have more than 1-month’s income in savings.
(Use menu on left: Financial Resources: Banking & Savings)

6.)        I/we take advantage of income tax savings strategies.   
(Use menu on left: Consumer Tools: Tax Resources)

7.)        I/we have made choices for retirement saving options.
(Use menu on left: Financial Resources: Investments; or College & Retirement Planning)

8.)        I/we regularly review our investments to meet short and long-term savings goals.
(Use menu on left: Financial Resources: Investments)

9.)        I/we have a will.
(Use menu on left: Financial Resources: Investments)

10.)       In the event of disability or death, I/we have income protection.
(Use menu on left: Financial Resources: Insurance & Risk Management)

11.)      I/we have an updated health care directive.
(Go to marshallmoney.org homepage; click on question 4; click on health care directives)

12.)      I/we know whom to contact should we have a financial crisis.
(Use menu on left: Community Contacts; or go to marshallmoney.org homepage and click on question 6)

 

Corey Skrogrand, CFP; Ameriprise Financial Services, Inc.
Shirley Anderson-Porisch, M.S., AFC; University of Minnesota Extension