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Your Financial Preparation Checklist for a Prosperous 2017

We are about to end the first quarter of 2017. Have you started saving, spending, and investing like a pro lately? If so, congratulations, and keep it up. The next step is to share to your friends and family how they can also start maximizing their overall income so that they can earn more and save more.

If you haven’t started using your income wisely yet, there’s still time to learn! Your basic everyday spending habits may make or break your savings. To avoid being broke and living from paycheck to paycheck, this Financial Checklist can help make 2017 your year of prosperity.

Print this page and tick the boxes when you’re done.

Have you:

 Have you reviewed your bank statements and monthly bills? (You can find out how much goes into your savings account and how much goes to your rent, bills, utilities, groceries, and other everyday expenditures.)

 Have you set daily, short-term, and long-term financial goals? (Setting goals at different points of your year helps you become more responsible and give you more guidance how much you should save.)

 Have you created or revised your monthly budget? (A budget generally consists categories where your income could go to. These can be rent and bills, food, recreational activities, or your emergency fund. Knowing how much you can spend on a monthly basis can give you a better idea on where your money goes and how much you can save.)

 If you’re living with a partner or you’re married, have you discussed financial matters together? (You have to be open and honest about your plans. While traditionally, one partner is in charge of handling finances, it’s good to occasionally talk about your budget so that they can keep tabs on how much they can spend. You can discuss your overall savings and spending habits, for example, and talk through mistakes that you both can avoid in the long run. Don’t forget to use “we” when talking about finances.)

 Have you studied more about financial literacy? (You don’t have to spend a fortune learning about how to be financially healthy. Look for websites and blogs that give spending and investing tips for families like yours. You can learn to start a budget, how to use a savings account and a checking account, and how credit cards should help your life, not bring you in debt.)

The key to a prosperous year is to always check if you’re within budget, and revise when needed. It’s good to always be open and honest about your finances to those who matter to you. Beware of unreliable sources and unreliable people. Once you keep with your budget, it’s much easier to see that financial freedom is just a step away.