{"id":81924,"date":"2021-04-20T09:56:44","date_gmt":"2021-04-20T13:56:44","guid":{"rendered":"https:\/\/canadianbudgetbinder.com\/?p=81924"},"modified":"2024-12-23T10:49:10","modified_gmt":"2024-12-23T10:49:10","slug":"how-to-create-a-monthly-finance-checklist","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2021\/04\/20\/how-to-create-a-monthly-finance-checklist\/","title":{"rendered":"How To Create A Monthly Finance Checklist"},"content":{"rendered":"\n

<\/span>Estimated reading time: <\/span>14<\/span> minutes<\/span><\/p>\n\n\n\n

A monthly finance checklist <\/strong>is to help you become debt-free and save money. <\/p>\n\n\n\n

Consider this to be an extension of your monthly budget.<\/p>\n\n\n\n

Wouldn’t being free of debt and living without money stress would be nice?<\/strong><\/p>\n\n\n\n

A little while back, I wrote about the importance of creating a retirement checklist<\/a><\/strong> which is still very relevant.<\/p>\n\n\n\n

However, now more than ever, Canadians must work on how to live comfortably before retirement.<\/strong> <\/p>\n\n\n\n

It’s kind of like having the best of both worlds. Live for today and tomorrow type of mindset. <\/p>\n\n\n\n

Doing so creates the life you want to live now and what you want in the future. <\/p>\n\n\n\n

Isn’t that the game’s name when it comes to budgeting?<\/p>\n\n\n\n

You would assume so, but not every budget lifestyle is cut and dry. <\/p>\n\n\n\n

Where one person or family can walk right into a personal finance checklist or budget, another might struggle. <\/p>\n\n\n\n

Today, I want to discuss what we have on our personal finance checklist and how to fit your budget into the mix. <\/p>\n\n\n\n

Money Freedom Starts With A Personal Finance Checklist<\/h2>\n\n\n\n

We didn’t become a millionaire couple by age 40<\/a><\/strong> because we had 6-figure incomes.<\/p>\n\n\n\n

Oh, no, no, no, we did not. <\/p>\n\n\n\n

Thinking about what we must endure to get to this point is mindboggling. <\/p>\n\n\n\n

However, it feels darn good. <\/p>\n\n\n\n

I’m not bragging by any means, but I’m about to tell you that you can get to a state where you are financially stable. <\/p>\n\n\n\n

To be fair, finance is not just about becoming rich. It’s about freedom<\/strong>. <\/p>\n\n\n\n

In other words, you have options when you are debt-free such as more time to volunteer, work fewer hours, or jump back into the workforce in the arms of a pandemic. <\/p>\n\n\n\n

Those are only a few examples that you can incorporate if needed. <\/p>\n\n\n\n

I can assure you of two simple tasks<\/strong> that helped us achieve debt freedom <\/a><\/strong>and the ability to increase our retirement savings<\/a><\/strong>.<\/p>\n\n\n\n

    \n
  1. You Need A Budget<\/strong><\/li>\n\n\n\n
  2. Personal Finance Checklist <\/strong><\/li>\n<\/ol>\n\n\n\n

    If you don’t want to be a slave to money all of your life, now is the time to clean the house<\/strong>.<\/p>\n\n\n\n

    By this I mean you must have some form of a personal finance checklist that you follow<\/strong>. <\/p>\n\n\n\n

    Worried About Our Child’s Future<\/strong><\/h2>\n\n\n\n

    What we continue to think about are our son and his future. <\/p>\n\n\n\n

    I’m not sure why but perhaps it’s normal for parents when life is a big giant ball of poo.<\/p>\n\n\n\n

    As we are waiting on a diagnosis of possible Autism along with other sensory issues, it bothers us.<\/p>\n\n\n\n

    He will have his registered education savings, which will pay for 4 years of University or College, plus a non-registered investment account to go with his paid life insurance policy. <\/p>\n\n\n\n

    Even then, we still worry that he will be ok. <\/p>\n\n\n\n

    Never Stop Trying To Save Money<\/strong><\/h2>\n\n\n\n

    Even after we became debt-free, we continue to live a thrifty lifestyle<\/a><\/strong>. <\/p>\n\n\n\n

    Why? It makes sense to continue to save money. <\/p>\n\n\n\n

    Taking chances with your money once you feel financially comfortable can be risky. <\/p>\n\n\n\n

    Covid-19 has put so many Canadians in a financial pickle that they don’t know what to do. <\/p>\n\n\n\n

    It’s a time when personal finance plays a massive role in our lives, and Covid-19 is freaking people out. <\/p>\n\n\n\n

    That’s the easiest and most polite way I can put it because Canadians are legitimately scared right now. <\/p>\n\n\n\n

    The world is scared about what’s next around the corner, how this pandemic and financial crisis will improve, and when. <\/p>\n\n\n\n

    Not everyone can work from home, with many companies laying off or closing down.<\/p>\n\n\n\n

    What was a relatively simple workday has now been turned upside down.<\/p>\n\n\n\n

    Living with little or no emergency savings<\/a><\/strong> and high consumer debt can be detrimental.<\/p>\n\n\n\n

    Get Results With A Finance Checklist <\/strong><\/h2>\n\n\n\n

    Some might say a financial checklist is similar to a 5-year plan, but it’s not, at least for us. <\/p>\n\n\n\n

    A five-year plan lists what you want to accomplish in five years. It’s a pretty easy concept, I guess. <\/p>\n\n\n\n

    We consider a financial checklist <\/strong>a monthly look into our money trends<\/strong>.<\/p>\n\n\n\n

    Essentially, you are taking the results of your<\/strong> budget<\/strong> and breaking it down. <\/p>\n\n\n\n