Life and money are inseperable to each other. Change in our lives is unavoidable.

Accordingly our situation also changes. We have many financial preferences, tussling for our deliberation. This requires us to do a regular check up on our personal finances.

Just how a routine health check up is essential so that we are able to work towards our dreams and achieve it, a regular financial check up is also equally important for the future.

Here are some necessary financial health check list :-

• Add beneficiaries on your financial accounts –  nominate who will receive assets in case of an unfortunate event in your life. As life changes, it is a basic financial activity that needs to be undertaken.
• Plan future financial goals – identify the financial master plan required to assist your financial goals. At every stage of life, there are different objectives to be achieved, be it completing education or starting a family. An early planning is required.
• Manage your bank account – in this day and age many of manage more than one bank account. With phishing, hacking and many online frauds engulfing our daily lives it is an ideal to keep a vigil eye on all your expenditures.
• Pay your debt – Learn to prioritize your debt on the basis of the amount of credit pending – higher the debt, the sooner it should be cleared.
• Make a financial budget – it is cardinal to take cognizance of your income. You should design a budget that helps you make a conscious attempt to live below the means and avoid overspending.
• Track your expenses – various apps gives you a glance at how your investments are performing and where all is the money flowing. This will enable you to make intelligent choices with respect to your finances and help you attain certain strenous goals.
• Save for your retirement – planning for retirement begins from an early stage. An extensive assessment of your retirement plans is needed depending upon your target retirement date. It is important to set your path for retirement straight in terms of savings, withdrawal rates and income targets.
• Rebalance financial portfolio – rebalancing on an intermittent basis helps in placing your investments in accordance with your goals. It regulates your investments and avoids you from being impulsive about your trading strategy.
• Get life insurance – it is a brilliant opportunity to purchase a life insurance and also evaluate the already existing insurances that suit your needs.
• Credit Check – your credit profile is a chief determinant that qualify your for a loan and at which interest rates. It can also help your recognize errors and help your recorrect your steps. A regular check will shield your from fraud and threat.

At a young age, we tend to have a callous attitude towards financial check up. As time and tide waits for no one, this attitude needs to be shed away as soon as possible cause early planning will help you secure your future.