The Financial Checklist That Everyone Is Using Right Now

September 16, 2021 | Emma Frost

must use financial checklist

Getting your money sorted is going to be easier when you use the financial checklist that recently everyone is using. In just seven steps, you should find yourself regaining control of your finances. So, let’s get a detailed view of this checklist to learn how to use and how a title loan online fits into it.

The Financial Checklist For 2021

1. Setting SMART Goals

There's no point in setting a goal of "saving for a house deposit." It's far too vague, and you'll end up not achieving what you set out to do. Instead, set SMART goals by following this method:

  • Specific — Be clear about what you want to accomplish with your money. Are you looking to save for a house? Do you want to go traveling around the world without having to work as you go? Or are you saving for a family or wedding?
  • Measurable — Set a specific figure you need to reach to achieve your goal. For instance, if you are looking to buy a $400,000 home and require a 20% deposit, you'll need to save $80,000. 
  • Attainable — Make your goal is achievable within your income and lifestyle constraints. To do this, look at your budget and consider how much you can afford to save each month.
  • Relevant — Put meaning behind the goals. For example, you might want to save for a house to raise a family and have equity in a property.
  • Time-Based— Set an end date for when you want to achieve the goal. It should be realistic and in line with the "Attainable" and "Measurable" parts.

make budget changes

2. Identify Possible Budget Changes

The next item on the financial checklist is to track your spending for 30 days or take a look at your bank statement for the previous month. Group all your outgoings into categories such as "Food," "Entertainment," "Bills," and anything else that suits your lifestyle. 

From there, you can easily see areas where you can cut back. Consider which purchases weren't worth it and think about where you're spending money unnecessarily. 

3. Get The Right Insurance Cover

Prepare for the unexpected. After all, if you fail to plan, you plan to fail. So, ensure you have the right life, health, car, and home insurance that will set you right if something goes wrong.

For those who realize they don't have everything covered, it's okay! It's not too late to get insurance where you need it or to update your plan.

4. Think About Investments

If you already have any investments, you can check if you should rebalance your portfolio. Some may have drifted relatively far from your expected asset allocation or are not earning you as much money as they used to.

You should also consider your investment expenses here. If you're paying more for your investments than you should be, it's time for your provider to change.

5. Check Your Financial Products

An important part of any financial checklist is that you should always check that you're getting the best rates and deals on your financial products. Look at:

  • Banks — Banks are always promoting different bonuses and incentives. However, they usually don't give the best deals to their existing customers. Consider whether your current bank is meeting your needs and offering attractive incentives.
  • Credit — Countless credit cards are offering various rewards. Make sure you match your spending to the best rewards for you. Trust us; it can seriously stretch your earnings.

6. Simplify Your Finances

Having multiple financial apps, HSAs, bank accounts, and retirement accounts makes it tricky to manage your money. So, it's time to simplify.

Grab a notebook and write down all your financial tools, accounts, and apps you have. Then, consider each item one by one to decide whether you need it. The aim of this part of the financial checklist is to:

  • Remove any apps you don't use or don’t really need.
  • Consolidate investments.
  • Streamline your money management.

7. Benefit From Emergency Financial Aids

The final step of the financial checklist is to know how to get help when you need it. Ideally, you'll have an emergency fund saved for all the unexpected circumstances (medical bills, urgent travel, home repairs). But if not, a title loan online could offer assistance.

qualifying for a title loan online

How To Get A Title Loan Online?

By using the value of your vehicle, Delaware Title Loans, Inc. can offer you between $300 and $15,000 to fund your crises. Just follow these steps:

  1. Complete the title loan online form on Delaware Title Loans, Inc.
  2. Pick up the phone when one of our loan representatives calls you shortly after. They will discuss the process, tell you about the documents you need to bring, and answer any of your questions.
  3. You can have the loan representative meet you at a location of your choice or you can meet them at the nearest Delaware Title Loans, Inc. storefront. Make sure to have the following documents:
    1. Your driver's license to verify your age and identity.
    2. Lien-free vehicle title to ensure you own the vehicle.
    3. Your vehicle (car, truck, or van) for inspection to calculate the title loan amount.
  4. Our loan associates will examine your documents and vehicle to determine whether you qualify.
  5. If you're eligible, you can receive the amount you qualify for on the same day or the following business day after signing some simple paperwork.

Get A Title Loan Online Today

Following the seven steps of the financial checklist above lets you control your financial environment to build a life you love. However, it’s also important to know how to use the help available to you, so if you need assistance, submit a form today for a title loan online!