“How can smart people so often be wrong?  They don’t do what I’m telling you to do: Use a checklist.”  — Charlie Munger¹

Whether you’re a pilot flying a plane, a surgeon performing an operation, or an engineer constructing a building, checklists are the smart person’s secret weapon.  They prevent errors, ensure consistency, and make the future just a little more reliable. 

Checklists are an amazing financial tool, too.  The late Charlie Munger, who was Warren Buffett’s business partner and unquestionably one of the most successful investors of all time, frequently discussed the importance of checklists in his own decision-making. 

“I’m a great believer in solving hard problems by using a checklist. You need to get all likely and unlikely answers before you; otherwise, it’s easy to miss something important.” — Charlie Munger²

With that in mind, we’ve created a new “summer financial checklist” specifically for the third quarter of 2026.  This checklist has five items, and while some may apply to you and some may not, each is worth doing now while the heat is high and the days are long. 

Of course, everyone’s financial situation is different, so if you would ever like to discuss any additional items that are more particular to you, please let us know.  In the meantime, we hope you have a great third quarter…and a wonderful summer!

Q3 Financial Checklist for 2026
Tip: Print this out and stick it on the fridge or somewhere else it will be seen.  That way, you can check off the items one by one as you complete them!
▢ Update Your Estate Plan Statistically speaking, there’s a good chance you’ll attend a wedding or celebrate a loved one’s new baby during the summer.  Both events are excellent reminders of the need to keep your estate plan updated.  When we first create an estate plan, it reflects exactly what we are thinking and feeling in that moment.  But as time passes and life changes, those thoughts and feelings may change, too. That’s why, if you haven’t already done so lately, you should take the time this summer to create or update your will, trusts, advanced directives, and beneficiary designations so they reflect everything and everyone you want to take care of. ▢ Freeze Unnecessary Subscriptions Summer means summer vacation, and for many people, vacations mean travel!  Which, in turn, means we can often be away from home for weeks at a time.  But while we usually remember to turn the AC down and the lights off before we leave the house, all our subscriptions stay turned on, quietly costing us money even though we’re not using them.  So, as you prepare to go on any trips this summer, consider pausing or temporarily canceling any subscriptions you’re not likely to use much.  That streaming service that’s meant more for cold winter nights than warm summer evenings.  The gym membership that won’t get used while you’re away.  Auto-deliveries from companies like Amazon you won’t be there to receive.  It’s an easy way to save money for that perfect souvenir or an upgrade to first class.  ▢ Review Your Interest Rate Expenses From gas to beef, prices are on the rise again, and with rising inflation often comes the possibility of rising interest rates.  (The Federal Reserve typically hikes rates as a way of combatting inflation.)  That makes this the perfect time to review how interest rates are impacting your ability to spend, save, and invest.  From credit cards to car payments, from a mortgage to medical debt, it’s easy for interest rates to stack on each other and act as a drag on our finances.  Take an hour to review all the various forms of interest you are paying to determine whether there’s a way to decrease them.  Options like refinancing or payment plans aren’t always right for everyone, but they are always worth considering.  ▢ Plan For Upcoming Expenditures It’s hard to believe, but the year is already half over!  That means the beginning of Q3 is the time to plan for any big-budget expenses that might take place during the second half of year.  Major purchases, family events, a child or grandchild starting college, even holiday plans.  By getting a good sense of what these will cost, and when those costs will hit, we can ensure that not only will those expenditures be covered, but that they won’t detract from saving and investing for even longer-term goals.  ▢ Hold Family Financial Conversations Whether it’s an impromptu Sunday BBQ, a long road trip, or a reunion, summer is a season when families tend to spend more time together.  That makes it the perfect opportunity to have “family financial conversations.”  There are three types of conversations that are good to have.  The first centers on “Family Financial Preparedness,” which is where everyone (or at least the adults) talks about their plans and intentions should the unexpected happen.  The second is “Family Financial Assistance.”  This is where the family discusses what help loved ones may need with their finances.  For instance, getting out of debt, helping someone go to college, or even investing in a family member’s business.  The final conversation is about “Family Financial Priorities.”  Here, the family decides what they want to accomplish together.  What trips and activities do you want to do together?  What property would the family like to purchase and share?  With all three conversations, the family is using the summer months to get on the same page, move in the same direction, and ensure financial harmony in the home.

¹ “Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger,” edited by Peter D. Kaufman, Expanded Third Edition, 2008, Virginia Beach: The Donning Company Publishers.
² “Charlie Munger: The Complete Investor,” Tren Griffin, 2015, Columbia Business School Publishing.