Your Financial Literacy Checklist
Work through these 10 essential steps to improve your financial literacy and take control of your money.
0 of 10 items completed
1. Build an emergency fund of 3-6 months expenses
Save in an easy-access savings account for unexpected expenses like job loss or repairs
2. Review all outstanding debts
List credit cards, loans, mortgages - note interest rates and minimum payments
3. Create a debt repayment strategy
Consider avalanche (highest interest first) or snowball (smallest balance first) methods
4. Check your workplace pension contributions
Ensure you are contributing enough to get full employer matching
5. Check your State Pension forecast
Visit gov.uk/check-state-pension to see what you will receive and when
6. Open an ISA if you have not already
Cash ISA for short-term savings, Stocks & Shares ISA for long-term investing
7. Create a monthly budget
Track income and essential expenses first, then allocate to savings and wants
8. Review all subscriptions and memberships
Cancel unused gym memberships, streaming services, and other recurring costs
9. Check your credit report
Review your credit file at checkmyfile or Experian to understand your borrowing position
10. Review your insurance coverage
Ensure you have adequate life, critical illness, and income protection insurance
Next Steps
Once you have completed your financial literacy checklist, put your knowledge into action: