From the time we're little, we're given lists of all the important things that need to be done each day or week. Although we think we'll outgrow lists as we get older, it's often as adults that we need to-do-lists more than ever. Financial to-do lists can be very helpful in reaching both short-term and long term goals.

What is a Financial To-Do-List?

A financial to-do-list is a list that aids in helping you to reach your financial goals by helping you to keep track of all the things that need to be done with your income and expenses. Many newlyweds will make up a financial to-do-list so they can reach their financial goals in buying a home, starting a family or just saving for a secure future. The first step in a financial to-do-list is determining your net worth. You'll find many handy net worth calculators online or it's something you can do very easily yourself.

What's your Net Worth?>

A net worth calculator will list all your debts including mortgage, car payment, student loan, utilities, etc as well as all your assets such as home, land, second home, jewelry, art, collectibles or savings. In short, everything you own is listed in terms of value while everything debt or bill you pay is an expense. Add each category up so you have a total and subtract the expenses from the assets. The balance is what your net worth is. Once you know your net worth, you'll be able to set financial goals and make a very achievable financial to-do-list.

Know your Debt-to-Income

You'll also want to figure out what your debt to income ratio is so you'll know how much money you have at the end of the month or how much month is left at the end of the money! To figure your debt to income ratio, add up all your monthly debts and divide by your total monthly income to determine what percentage of your income goes towards your debts. Banks generally don't like giving loans if your debts are more than 30% of your income so use this as a guide line. Many people that are job hunting because they have high debt will use their debt to income ratio as a guideline of what they need for employment.

Set up your Budget

Once you know where you're sitting with your debts, income and net worth, you'll be in a great position to set up a budget, which is vital for a financial to-do-list. Determine what you want in life and what how much income you have to spend to help you reach that goal. Setting up a budget is very easy. All you need to do is add up all your income for the month and all your expenses. Subtract your expenses from your income and you'll know how much you have left to go towards your financial goals.

Setting up a financial to-do-list is very easy once you have your budget all set and know how much money you have to work with or if your budget needs some adjustments. You may also be thinking in career changing. Many people consider career changing when they make their to-do-list so they can earn a higher salary and reach their goals quicker.