This page was created especially for people who are using my Money Calendar.
Click the links below to access the tools you’ll need for each month.
Some of the forms you’ll need are from Savings Fitness: A Guide to Your Future and Your Financial Fitness. If you don’t have a print copy, you can download a PDF version from the US Department of Labor. Or use the interactive version on the Dept. of Labor website
The other forms are ones that I created, and you can download them directly from this page by clicking the links below.
Month 1: Expenses
Download and complete the Monthly expenses worksheet.
Month 2: Spending Plan
Download and use the Weekly Expense Tracker worksheet to track your expenses for four weeks.
Use the Cash Flow Spending Plan in your Savings Fitness book, or use the interactive version on the Dept. of Labor website.
Month 3: What Do You Owe?
Use the Debt Reduction Worksheet on page 49 in your Savings Fitness book, or use the interactive version.
Go to https://powerpay.org/ to create your personal plan for paying down your debt. Or, download the PowerPay Debt Elimination mobile app from iTunes.
Month 4: Credit History
Go to www.annualcreditreport.com/ to request your free, annual credit from one, two, or all three of the major credit reporting agencies.
If you’d rather request your credit report by phone, call 1-877-322-8228.
Month 5: What Do You Own?
Download and complete the What Do I Own worksheet.
Month 6: Net Worth
Use the information from your completed What Do I Own worksheet (Month 5) and your Debt Reduction worksheet (Month 3) from the Savings Fitness book.
Use that information to complete the Balance Sheet to Calculate Net Worth on page 38 of the Savings Fitness book (or use the interactive version).
Month 7: Retirement Income
Estimate your Social Security benefits using one of the Social Security calculators.
For retirees and those close to retirement, use at least one tool to estimate how much you’ll be able to spend from your savings and investments:
- T Rowe Price’s Retirement Income Calculator. You can log in and your work will be saved, or use the calculator without signing in.
- Vanguard’s Retirement Nest Egg Calculator
If you are a few years (or more) from retirement, try at least one of these calculators to see how much you need to save for retirement:
- T Rowe Price’s Retirement Income Calculator. You can log in and your work will be saved, or use the calculator without signing in.
- Vanguard’s Retirement Income Calculator
Month 8: Insurance
Download and complete the Insurance Inventory worksheet.
Month 9: Estate Plan
Download and complete the Estate Planning worksheet.
Your attorney can draft powers of attorney for you. But you can also do it yourself. Download statutory forms directly from the State of Illinois and follow the instructions to create a healthcare power of attorney and a power of attorney for property.
Month 10: Income Tax
Download and complete the Income Tax worksheet. This worksheet has been revised for 2019 and 2020.
Month 11: Life Events
Download and complete the Life Events worksheet.
Month 12: Get Help
Download the Finding Advice worksheet.
For information about different types of financial professionals, including the difference between a broker (Registered Representative) and a Registered Investment Adviser and how they are paid, visit University of Illinois Extension’s Choosing a Financial Professional at http://bit.ly/FinancialPro.
I’d love to hear your suggestions or comments. Please use the Contact Karen form to send me a message.
Karen Chan Financial Education & Consulting, LLC 