We can all agree that the last few years have been difficult. Sometimes, our financial challenges may not have been just about our income. More often than not, it’s been tied to the decisions we make about how we use our money. And those decisions can be emotional, too. For example, we take pleasure in the $3 we spend on our morning coffee, but we may be annoyed that we have to spend the same amount on transit or parking. Perhaps if we change our thinking about how we earn and spend our money, we’ll discover that we’re able to manage it more effectively. In fact, it might even be less stressful and/or unpleasant. So, to begin 2024 with a refreshed attitude about how you manage your money, try this personal financial management calendar (sourced from the National Financial Educators Council).

Monthly (Time required: 1 Hour)

  • Review bank/credit card statements
  • Securely file or destroy statements (safeguard against identity theft)
  • Review savings plan
  • Review and/or reset financial goals
  • Review and/or adjust your monthly budget

Quarterly (Time required: 1-1.5 hours)

  • Assess your financial situation
  • Diagnose/prioritize financial adjustments
  • Redesign financial goals (based on the first 2 items)

Every Six Months (June and December. Time required: 1-1.5 hours)

  • Evaluate your income – does it meet your needs
  • Manage your accounts – check fees, providers – are they meeting your needs
  • Review your risk tolerance – re-revisit the Canada Life risk tolerance questionnaire
  • Review your insurance coverage or needs
  • Review your estate plan
  • Review/set/adjust your long-term financial plan
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