Pennies & More

Personal money checklist

29 steps that cover the basics of a healthy personal economy, in roughly the order most people tackle them. You don't need to do them all at once.

Track your progress with a free accountPrint it from the Playbook

Foundation

Know where you stand before making changes.

  • Write down your monthly take-home pay Guide
  • Track every expense for one full month Guide
  • Set up a simple budget you can stick to Guide
  • Put every bill on autopay or a reminder so nothing is late Guide
  • Cancel subscriptions and memberships you don't use Guide
  • List what you own and what you owe (your net worth) Guide

Safety net

Make sure one surprise bill doesn't become debt.

  • Save a starter emergency fund of $500 to $1,000 Guide
  • Set up an automatic transfer to savings on payday Guide
  • Confirm your savings are in an FDIC- or NCUA-insured account Guide
  • Grow the emergency fund toward 3 to 6 months of essentials Guide
  • Create sinking funds for irregular yearly expenses Guide

Credit and debt

Lower what you pay to borrow, and protect your credit.

  • Pull your free reports at AnnualCreditReport.com and check for errors Guide
  • Freeze your credit at all three bureaus (lift it when you apply) Guide
  • List every debt with balance, APR and minimum payment Guide
  • Choose a payoff method: avalanche or snowball Guide
  • Call your highest-rate card and ask for a lower APR Guide
  • Log in to StudentAid.gov to confirm your loans and plan (if you have federal loans) Guide

Home and mortgage

Whether you're buying, refinancing or staying put.

  • Work out a comfortable monthly housing payment including taxes and insurance Guide
  • Calculate your debt-to-income ratio Guide
  • Set a down payment and closing cost savings goal Guide
  • Check your state's first-time buyer and down payment assistance programs Guide
  • If you pay PMI, note the date your balance reaches 80% of original value Guide
  • Run a refinance break-even check once a year Guide

Future and protection

Build for the long term and keep scammers out.

  • Contribute enough to get your full employer retirement match, if offered Guide
  • Look up the fees on your retirement accounts Guide
  • Review beneficiaries on retirement accounts and insurance Guide
  • Turn on account alerts for large transactions and logins Guide
  • Use two-factor authentication on bank and email accounts Guide
  • Schedule a yearly money check-up on your calendar Guide