Finance Friday:  Conduct an Annual Financial Checkup

It is wise to stay on top of your finances from week to week. Sometimes in the grind of paying bills and budgeting though, you might not stop to think about your larger financial picture.  At least once a year, it is a good idea to take a step back and conduct a financial checkup.

Some tasks for your checkup might include:

  • Reevaluate your income and expenses to see where your money went over the past year. Did anything surprise you?Are there changes you want to make to your budgeting?
  • Adjust your tax withholding, if necessary.Changes in your financial situation or your personal life can impact your taxes.
  • Look at your investment accounts.Is your money working for you?Are you on track with your goals for your investments?
  • Review your legal documents.This includes your insurance policies, will, trust, and power of attorney. Are there changes that need to be made to any of these?
  • Check your credit report at

Completing a financial checkup once per year will help you stay on track for your financial future.