StashLearn
Financial education, no lectures.

Follow and listen to our podcast

Get the app
Teach MeMoney NewsMoney TalkStash
Teach Me

Your Financial Life Checklist

February 22, 2018

4 min read

Make sure your home is insured, whether you rent or own.

Get term-life insurance now.

Build the future of a child you love with a custodial account.

✔ Create a will.

✔ Refinance your student loans.

Start saving (it’s never too early) with Stash Retire.

✔ Create a diversified investment portfolio with Stash Invest.

Item #1. Protect your stuff

Good news for homeowners and renters: It doesn’t cost a lot of money to protect your stuff. Homeowners or renters insurance protects all your valuables in case disaster strikes, and can even cover your living expenses if you have to be out of your apartment or home for a while.

No more forms, phone calls, and headaches. Now, you can get a policy that’s just right for you, right from your phone. You can get covered for a long list of things, including theft, fire, and third-party injuries, in less than 3 minutes. Yes, really.

Get Renters or Homeowners insurance

With Lemonade*, you can get a policy starting at $5 a month.

Get protected

Item #2. Protect your family

We get it. Buying life insurance seems like a really adult decision. But really, it needn’t be so scary. It can actually be a really easy way to avoid a lot of really big problems.

There are lots of different types of life insurance. Whole life insurance covers you for your entire life and has a cash value. Term-life insurance provides  coverage over a specific period of time. This can be 10 years, 15 years, 20 years, or more, depending on what you choose. Term life insurance tends to be the cheapest option if you only need protection for your family and dependents for a specific amount of time.

A term-life insurance policy can provide a financial safety net for your dependents in case of your unexpected passing. Who are dependents? They’re anyone that relies on you financially (your kids, an elderly parent, younger sibling). It can help your family play the bills if anything should happen to you. This can include outstanding student loan debt, medical debt, or other outstanding expenses.

Here’s the good news: The younger you are, the more affordable your life insurance is likely to be. You can lock in a premium rate that will stay the same for the entire term of your policy, or you can lower your premiums later on by adjusting your insurance coverage as your needs change.

Get term-life insurance

Ladder* can give you a quote online in seconds.

Get a quote

Get term-life insurance.

Ladder* can give you a quote online in seconds.

Get a quote

Item #3. Give a kid you love a head start

We all want to send our kids out into the world with money in their pockets and a solid financial education. With a custodial account, you can start contributing to it when they’re young–and teach them all about about investing along the way.

After your child (or nephew, or goddaughter, or sibling) turns 18, you can hand it over to them and they can keep contributing to it. They can use the money for school, a down payment on a home, or anything they choose.

Invest in their futures

Open a custodial account for the kids in your life

Start now

Item #4. Create a Will

Take control of what happens to your money, property, and the things you care about. You’ll need a will to manage your assets and help the ones you love once you’re gone.

A will may be the most essential document you’ll ever make. Creating one is easy and affordable.

Manage your assets

USLegalWills makes planning for your future easy and affordable

Create a will

Item #5. Refinance your student loans

Student loans are a fact of life. In 2018, around one in four American adults are paying off student loans, with the average borrower owing $37,172. By refinancing your existing student loans you could see a dramatic reduction in your interest rate – lowering your monthly payments. And that can mean more money to put aside for your future.

You can check and see if you qualify for a better rate with LendKey*.

Item #6. Start investing for your future

Here’s the straight truth: You don’t need to be rich to be an investor. A little money, put toward a diversified portfolio of investments, each week over time can add up to a bona fide nest egg you can be proud of.

It’s easy to invest for long-term goals like saving for a down payment on a house while you’re saving for retirement. In fact, you can do it with Stash.

Already have Stash? Now you’re ready to put the pedal to the metal. Investing money on a consistent basis is easy when it’s automatic. New investor, meet Auto-Stash.

Start where you’re comfortable and scale up from there.

Sign up for Stash Invest. Start with just $5.
Sign up for Stash Retire. Open an account with just $5.

Item #7. Get serious about saving money

When it comes to saving money, automatic beats manual. Remembering to set money aside each week can be a challenge. And let’s be real, sometimes, we “forget” on purpose because saving money is hard.

Check out Smart-Save**, the handy Stash feature that knows just how much you can set aside each week. It saves for you automatically. Pretty smart.

Already have Stash? Log in and turn on Smart-Save for an easy way to save, every week.

Investing, simplified

Start today with as little as $5

Get the App

*  Stash is a paid marketing partner of Lemonade, Ladder, LendKey, and U.S. LegalWills. All content provided herein is for informational purposes only.

** Please note, the Smart-Save feature is not a savings account offered by a bank. Smart-Save is a feature that may be turned on and connected to the checking account that is linked to your Stash Invest account. This feature can automatically transfer a percentage of your available funds from your checking account into your Stash cash balance. The percentage that is transferred from your checking account is determined by a methodology that studies the spending patterns of each individual user.

By Lindsay Goldwert
Lindsay Goldwert is Senior Editor at Stash.

Next for you
What is Stash Retire? Saving For Your Future, Simplified

Investment Profile

Gamers FTW!: Invest in a Video Games ETF on Stash

Invest in the multi-billion dollar video game industry.

Learn more
Explore more articlesChoose a topic to learn more about
social media market news money lessons Retirement Technology
Disclaimers

This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

Furthermore, the information presented does not take into consideration commissions, tax implications, or other transactional costs, which may significantly affect the economic consequences of a given strategy or investment decision. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Each investor should evaluate their ability to invest long term, especially during periods of downturn in the market. Investors should not substitute these materials for professional services, and should seek advice from an independent advisor before acting on any information presented. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio.

Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Stash does not represent in any manner that the circumstances described herein will result in any particular outcome. While the data and analysis Stash uses from third party sources is believed to be reliable, Stash does not guarantee the accuracy of such information. Nothing in this article should be considered as a solicitation or offer, or recommendation, to buy or sell any particular security or investment product or to engage in any investment strategy. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Stash does not provide personalized financial planning to investors, such as estate, tax, or retirement planning. Investment advisory services are only provided to investors who become Stash Clients pursuant to a written Advisory Agreement. For more information please visit www.stashinvest.com/disclosures.