Financial Check Up

Money Rx: The Financial Check Up

Ideally, we visit the doctor at least once a year. This regular check-up is really a check-in, an opportunity to make sure that all is well and we’re on track for good health. It’s a proactive step that helps us anticipate and correct the root of a possible problem before it has a chance to grow into something more.

Holistically speaking, your health encompasses much more than just your physical condition. In every realm of life (personal, professional, and financial), a check-up matters.

What does the financial equivalent of your annual physical look like?

The financial check-up

You can do this once a year, twice a year, once a quarter – whatever works for you, as long as you’re making a point to check in regularly. This involves gaining a sense of your current financial situation and getting educated on all your options, as well as seeking information on whatever affects your financial life. Keeping a date with yourself for a regular financial check-up will help you be three things that are key for a healthy financial life:

  • Proactive: You set clear financial goals for the future. You take steps to lay a strong financial foundation by paying down debt, saving, and investing.
  • Aware: You have a clear sense of all the moving pieces that affect your financial health. You know your spending and saving habits. You understand what it takes to be on track to meet your goals.
  • Involved: Whenever needed, you ask questions of your bank, your accountant, your financial advisor, and anyone else who is involved with your financial life.