The first step toward achieving better financial health is getting your finances in order. By
doing so, you can avoid missed payments and unnecessary fees, start tackling debt and embrace financial opportunities to pursue your savings goals. Organizing your financial life doesn’t have to be difficult. This easy-to-use checklist can help you get started.
Once your finances are organized, you’ll be able to spend less time on money management tasks and more time enjoying your financial well-being.
TRACK YOUR SPENDING
Tracking your daily spending is a great way to determine where your money is going. Take a few minutes each day to enter your daily expenses in a pocket notebook, spreadsheet or app on your smartphone.
CALCULATE YOUR CASH FLOW
Cash flow is simply “money in” (income) and ”money out” (expenses). Subtract
your expenses from your income. The result is your monthly cash flow.
CREATE A BUDGET
Sticking to a budget can help you keep your spending in check and manage
your money in a way that aligns with your goals and priorities.
AUTOMATE SAVINGS AND BILL PAYMENTS
Pay yourself first by setting up an automatic savings program. If your employer
offers a 401(k) plan, this is an easy way to save for retirement by allowing you
to contribute automatically to a 401(k) account. To better handle bill payments,
automate them by using your banks’ online bill pay or money transfer options.
SET UP A FILING SYSTEM
An effective filing system will help keep your financial records organized. Where
possible, “go paperless” so you receive and store documents electronically. Set
up a file system for any paper bills or statements you receive in the mail and
spend a few minutes organizing them each month.
UPDATE DOCUMENTS PERIODICALLY
Check your financial documents annually to make sure that all your personal information, including emergency contacts and beneficiaries, is accurate and up to date.
SET FINANCIAL GOALS
Set specific, measurable financial goals, whether it’s paying off debt, saving a specific amount each month for retirement or reaching an important financial milestone.
Now that you know what steps to take, it’s time to take action. Use this simple checklist to start organizing your financial life today.
NEED HELP? GIVE US A CALL.
Gasaway Investment Advisors, Inc
7110 Stadium Drive
Kalamazoo, MI 49009
This presentation is not an offer or a solicitation to buy or sell securities. The information contained in this presentation has been compiled from third party sources and is believed to be reliable; however, its accuracy is not guaranteed and should not be relied upon in any way, whatsoever. This presentation may not be construed as investment advice and does not give investment recommendations. Any opinion included in this report constitutes our judgment as of the date of this report and are subject to change without notice. The views expressed are those of the author as of the date noted, are subject to change based on market and other various conditions. Material discussed is meant to provide general information and it is not to be construed as specific investment, tax or legal advice. Keep in mind that current and historical facts may not be indicative of future results. Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Keep in mind that current and historical facts may not be indicative of future results. The information provided is for educational purposes only and not intended to provide any investment, tax or legal advice. Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website.