The Financial Check-In Every Woman Over 35 Should Do This Year
Get clear, confident and in control of your money.
Introduction: This Is Not About Guilt
Let’s be honest—if you’re a woman over 35, you’ve probably asked yourself at least once: Am I where I should be financially?
Whether you're juggling a career and caregiving, rebuilding after a divorce, or finally starting to prioritize yourself after decades of pouring into others, money can feel like a fog. And in that fog, it’s easy to avoid looking closely at the numbers.
But here’s the truth: clarity is power—and this is not about catching up, keeping up, or beating yourself up. This is about getting grounded. It’s about being realistic and knowing where you are now so that you can create a financial foundation that supports your next chapter—whatever you want that to be.
Think of this as your annual wellness checkup—for your financial health. This is just as important as your physical health. Make it a priority.
Step 1: Know Your Numbers—Without Panic
Goal: Get a clear, current snapshot of your financial life.
This isn’t about spreadsheets. It is about knowing where you currently stand. The more realistic you are, the better prepared you will be to get to where you need to go.
Your Action Plan:
List all your accounts: checking, savings, credit cards, investment, retirement, etc. Just make a list. You don’t need to do anything with them yet.
Add up your current income sources: salary, freelance, child support, dividends, etc.
List your fixed monthly expenses: housing, utilities, subscriptions, debt payments.
Estimate variable monthly expenses: groceries, gas, travel, dining, etc.
Add up your total debt: this includes mortgages, credit cards, student loans, medical bills.
Step 2: Check Your Credit Health
Goal: Understand your credit standing and make a plan to improve or maintain it.
Credit isn’t just about borrowing. It affects everything from your car insurance to whether you can co-sign your child’s student loan someday.
Your Action Plan:
Get a free copy of your credit report from all three bureaus at AnnualCreditReport.com.
Look for errors—wrong accounts, inaccurate balances, or outdated statuses. Dispute them if needed.
Check your credit score via your bank or a free service like Credit Karma or Experian.
🩺 Healthy Credit Benchmarks:
Score above 700 = good
Credit usage under 30% of your total available = ideal
No missed payments in the last 12 months
Step 3: Rebuild or Refresh Your Emergency Fund
Goal: Build a 3–6 month cash cushion so you can weather life’s surprises with peace of mind.
If the last few years have taught us anything, it’s this: security doesn’t come from certainty—it comes from preparation.
Your Action Plan:
Calculate your monthly “bare-bones” expenses—rent, food, insurance, transportation.
Multiply that by 3 to 6. That’s your emergency fund target. We recommend that you keep 6-12 months as emergency expenses for your piece of mind.
Automate a small amount (even $25/week) into a high-yield savings account.
Wait until you establish your emergency fund before investing. See “If you have an extra $1, invest it.”
Tip: Don’t keep your emergency fund in your checking account. Use a separate account labeled “Do Not Touch Unless Zombie Apocalypse.”
Step 4: Review Retirement—Even If You Feel Behind
Goal: Know where you stand and what adjustments you can make.
If you’re over 35 and haven’t maxed out your retirement accounts, you’re not alone. But the magic of compounding still works—even starting in your 40s or 50s. Don’t wait.
Your Action Plan:
Locate all your retirement accounts: 401(k), 403(b), IRAs, old job plans.
Use a free calculator (like NerdWallet’s or Fidelity’s) to estimate your retirement income at your current pace.
If you’re employed, contribute at least enough to get the full match.
If self-employed, look into a SEP IRA or Solo 401(k).
Consider catch-up contributions: Once you’re 50+, you can contribute more to IRAs and 401(k)s.
Checkup Questions:
Am I contributing the maximum amount of my income toward retirement?
Are my investments diversified (not just sitting in a money market fund)?
Do I need to talk to an advisor about recalibrating?
Step 5: Insurance Reality Check
Goal: Make sure your coverage actually reflects your life today—not five years ago.
Many women over 35 are underinsured. Some are overpaying. Most haven’t looked at their policies in years.
Your Action Plan:
Health insurance: Know your deductible, out-of-pocket max, and what’s actually covered for you and your family.
Life insurance: If you have dependents, do you have 10x your annual income covered?
Disability insurance: If you couldn’t work for 6 months, could you survive?
Auto/home/renters insurance: Are you getting competitive rates? Are your belongings covered adequately?
Long-term care: If you're over 45, start exploring this now—even just to understand what’s out there.
Warning: Don’t assume employer-provided insurance is enough. It often isn’t portable or sufficient. You should have separate insurance.
Step 6: Update (or Create) Your Will and Beneficiaries
Goal: Ensure your money goes where you want it to go.
You don’t need to be rich to have a will. If you have kids, accounts, or a life partner, you need a plan.
Your Action Plan:
Review beneficiaries on all retirement accounts and insurance policies. These may override wills.
Create (or update) your will—especially if you have kids or property.
Consider a durable power of attorney and healthcare proxy.
Common Oversight: People often forget to update their beneficiaries after divorce, remarriage, or births. Make sure you revisit the beneficiary designations often.
Step 7: Audit Your Subscriptions, Spending Leaks, and Financial Clutter
Goal: Simplify, reclaim cash flow, and feel mentally lighter.
Financial clutter = decision fatigue = procrastination. Clean it up.
Your Action Plan:
Cancel unused subscriptions. Check your Apple ID, Amazon, or PayPal.
Consolidate accounts you no longer use.
Set boundaries with “autopay creep”—those small recurring charges that add up.
Create a “money ritual”—a monthly 30-minute date with yourself to review spending and reset.
Make it a habit to review your credit card statements every month.
Exercise: Print one month of your credit card statement. Highlight anything you regret or forgot. Ask: “Did this reflect my values?”
Step 8: Reconnect with Your Why
Goal: Anchor your financial life to something deeper than numbers.
This isn’t about sacrifice. It’s about design. Your money should serve you—your values, your dreams, your family, your joy.
Journal Prompts:
What do I want more of in my life in the next five years?
What would financial peace look and feel like to me?
What’s one small money habit I can commit to this month that aligns with that vision?
Final Thoughts
This isn’t about doing everything perfectly. This is about getting smart about where you stand financially. You are ready to take charge and step into your next financial chapter—not from fear, but from intention. The only way you can do that is if you know your numbers now and where you want to go in the future.
Check out our website SHALnCO for more resources on investing, including courses and eBooks, our weekly Substack newsletter and products.
Nothing in this email is intended to serve as financial or investment advice and you should do your own research and consult with appropriate advisors.