A financial health check can help you determine how well your finances are doing or what you need to work on to reach your financial goals. It’s a good idea to check on your financial health regularly, just as you would go to the doctor for a checkup, even if nothing is wrong. You may feel like you’re in a great place financially, but it never hurts to review your finances to ensure that nothing slips through the cracks. If you’re not yet where you want to be financially, performing a financial checkup can help you create good money habits, form a solid financial plan and help you reach your money goals. Here are three easy steps to start your financial checkup today:

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  1. Identify Your Financial Goals. Assess where you are on the financial goals you set last year. If you are on track, set new goals and break down the action steps you need to take to reach them. If you have fallen short, determine why and revise your plan to achieve success. Be realistic when setting your goals. Determining your current debt, expenses, and income will help you understand what specific areas of your finances need the most attention and help you prioritize accordingly.
  2. Track Your Spending and Savings Habits. Look at your daily transactions and start tracking them. This will allow you a better view of how you spend your money and will also help you see where you can cut your budget. Make adjustments that will allow you to keep your expenses below your income while leaving room to pay down debt and save for your goals. This is also a good time to check your interest rates. Refinancing a mortgage or car loan, or switching to a credit card with a lower rate, or one with rewards, could be an easy way to save money.
  3. Check Your Credit Report. There are a number of websites that offer a free annual credit report, such as com. It is important to review your credit report annually to ensure the information being reported is accurate. Your creditworthiness is used to determine your eligibility for things like cell phone contracts, renting an apartment, and being approved for loans or credit cards. Performing this checkup will pay off in the long run.

You do not have to cross off every item on your financial health checklist in one day. Taking a few weeks to gradually go through your finances can be a great way to make a financial checkup manageable. The important part is that you do it now and make plans to do it every year.