Regular Financial Checkup

Recently I have done checkups of my body and found some issues, when I ran the same thing with the doctor he suggested I have some medicine to correct those issues and also asked me to have those checkups done at least once a year. So the same thing is applied to the finances too, we need to have regular financial checkups and see how good our financial well is. And if there are issues, we should fix those issues as soon as possible.

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Are you too much into Debt

This is one of the common issues for financial health to be in too much debt. So if your health is deteriorating and you are constantly under stress because of the debt, then the first thing you should do is to clear off that debt. In my opinion, being in debt for creating assets is somewhat ok but again it totally depends on your financial health.

Track on achieving Financial Goals

When we start the financial goals we think that our task is complete but that is not so true. In my case, I have to regularly check the status of my financial goals to see if I am right on track or do I have to invest more to achieve the target which I have set for myself. Also, the target might change too depending on many reasons, so it is always good to check.

Also if you do not have the financial goals, then start today because until and unless you start saving and investing as per your goals it is very unlikely you can achieve that.

Having Emergency Fund

With recession around the corner and jobs shrinking, it is very much necessary to have an emergency fund so that if you do not have a job tomorrow, you can get some money out from it instead of taking out from your financial goals.

Start Savings

I was reading somewhere that people are living paycheck to paycheck even though they earn a lot which is so bad for your financial health. Think about a scenario where you lost your job or cannot work for some months for any reason, and how that paycheck will come. So it's better to start having an investment.

These are some of the basics of financial checkups which every one of us should do so that just like health we can keep our financial health healthy. If for any reason you cannot find out the problem in your financial health then its better to get in touch with Financial Doctor, they will guide you for your financial health.

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