Fifteen minutes to get rich

Print off and keep this one-page checklist and you'll soon find that managing your money becomes child's play.

One thing that you can say for certain about modern living is that it is fast-paced, stressful and complicated.

This is especially the case when it comes to personal finance. With hundreds of different financial firms vying for a slice of our disposable income, competition for customers is fierce.

However, don't worry, because help is at hand, because, comparing financial products has taken a giant leap forward, thanks to the wonders of the web.

Indeed, tens of millions of us now use website search engines to compare and choose financial products.

Then again, one problem I have with managing my personal finances is that I'm rather forgetful.

Thus, in order to avoid missed payments and so on, I try to automate my financial affairs as much as I can. Hence, I make full use of standing orders, direct debits and other devices designed to make budgeting easier.

Related goal

Lower your household bills

How to cut your energy, insurance, phone, broadband, water and TV bills, lower your council tax and save thousands of pounds a year!

Do this goal

If you're a registered member of lovemoney.com, you can also take advantage of our free online banking tool. This allows you to view all your recent transactions from different bank accounts and credit cards with a single log-in - your existing lovemoney.com registered username and password. You can also categorise all your transactions, so you can easily keep track of your spending each month.

Another tool which I use to monitor my money management and household affairs is a to-do list, which is constantly being adapted and updated to keep track of my finances. As well as compensating for my failing memory (after 35, many people suffer from what I call CRAFT: Can't Remember A Flipping Thing!), my checklist encourages me to make better financial decisions.

Anyway, without further ado, here's a template for my checklist which you can customise for you own use and then print off to act as a constant reminder. I hope it works for you, too!

MY FINANCIAL CHECKLIST FROM WWW.LOVEMONEY.COM
BANK ACCOUNT: Are you earning a decent rate of interest on your credit balance? Best Buy accounts pay interest of as much as 6% a year, so switching could be a smart move.
BENEFITS: Are you claiming all the State benefits to which you're entitled? The www.entitledto.co.uk website can help.
BILLS: It's possible to save hundreds of pounds a year by switching gas and electricity suppliers. The same goes for your communications costs: shop around for cheaper home telephone, mobile and broadband charges. Also, a water meter could save you money if your home has more bedrooms than occupants.
CAR: Don't overpay for car insurance, breakdown cover, servicing and repairs when quality, low-cost alternatives are just a click or phone call away. Even buying fuel at your cheapest local garage will save you a few pounds a month.
CHILDREN: Making monthly contributions to a tax-efficient, stock-market investment for children can produce a tidy sum when they reach adulthood. Are you making the most of children's savings accounts and Child Trust Funds? Remember, children can have pensions, too.
CREDIT CARDS: If you're paying interest on your plastic debts, then you're missing a trick: look into 0% deals today. If you always pay off your bill in full, then a cashback credit card will enable you to earn as you spend.
CREDIT REPORT: Have you checked your credit reports from Equifax, Experian and Callcredit to ensure that they are correct and unblemished? Get a 30-day free credit report trial
DEBT: Do you spend more than you earn, and is this causing you to build up debts? If so, it's time to put your house in order by learning to budget, living below your means, and throwing more money at your debt pile. Your debt-free day could be sooner than you think!
HOME AND TRAVEL INSURANCE: Don't pay over the odds by renewing your policies year after year -- shop around before your next renewal!
HOUSE: Have you checked that your home is in the correct Council Tax band? Could you save money by changing your digital-TV provider?
INVESTMENTS: Are you being charged too much by investment managers? If so, a cheap index-tracking fund could be a better bet. Also, consolidating your existing ISAs under one roof could save you hundreds of pounds a year. Could you make money by buying discounted shares from your employer?
LIFE AND HEALTH INSURANCE: Have you made appropriate provisions for yourself and your family if you die, suffer a serious accident, or become too ill to work for an extended period? State benefits are measly, so seek out affordable life cover, income protection insurance, private medical insurance, and critical illness cover.
LOST FORTUNES: You may have lost touch with some financial assets over the years. Firms such as the Unclaimed Assets Register can trace these lost assets and reunite you with them.
MORTGAGE: Is your mortgage interest rate still competitive? If you're paying over 5.5% a year, then it's probably time to switch. If you have a failing mortgage endowment, have you taken steps to make up the shortfall, or made a formal mis-selling complaint, if appropriate?
PENSIONS: Are you saving enough for retirement? Ideally, you should be putting aside around 15% of your pre-tax pay to fund your post-work life. New-generation pensions such as Self-Invested Personal Pensions (SIPPs) have low charges, which means more of your money gets put to work. Hence, transferring old-style pension plans could make sense, even after accounting for any exit penalty.
SAVINGS: Is the first £5,100 of your savings going into a tax-free cash ISA (Individual Savings Account) each year? If not, why not? Also, be sure to keep any eye on your existing savings pots -- and don't be afraid to move them to earn a higher rate of interest. Aim for more than 5% a year before tax.
TAX: Be sure to complete and return your Tax Return on time, or you face hefty fines. When tax information arrives, make sure that you have a file to put it into for safe keeping. You don't want the taxman on your back, trust me!
MY FINANCIAL CHECKLIST FROM WWW.LOVEMONEY.COM

More: Don’t get caught out by this pension scandal | Five top easy access savings accounts
This article was updated in May 2010.