It Is Important To Do A Financial Check-Up

We all do a health check-up annually, or at least once in 2-3 years.

- PV SUBRAMANYAM

This is just to see the parameters and decide whether we need to take some corrective action. We give a small quantity of blood and many parameters are checked. We know that it helps us to take some corrective action to improve our health.

Similarly, we can check our finances—let's call it a 'Financial check-up'. Having a financial check-up is crucial for several reasons:

• Assessing financial health: Just like regular health check-ups, a financial check-up helps you understand your current financial status, including your assets, liabilities, income, and expenses. This assessment can reveal how well you're managing your finances.

• Goal setting and planning:

• Short-term goals: You might plan for immediate needs like saving for a vacation or paying off credit card debt.