January is a great time to consider an annual financial review—it’s your chance to take a close look at where you stand, set new goals and plan for what’s ahead. To help you stay on top of your financial game, we’ve put together a simple, practical financial health check-up checklist.
Assess Your Current Finances in Four Steps
Step 1. Get to Know Your Monthly Budget and Spending Habits:
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Analyze Expenditures: Start by examining your spending over the past year.
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Adjust Your Budget: Based on your spending analysis, adjust your budget to better align with your financial goals.
Step 2. Evaluate All Your Income Streams:
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Assess Stability and Growth: Review your primary and secondary sources of income.
Step 3. Assess Your Savings:
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Emergency Fund Status: Ensure you have an adequate emergency fund.
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Savings Goals: Evaluate your progress towards short-term and long-term savings goals.
Step 4. Get to Know Your Investment Portfolio:
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Portfolio Performance: Review the performance of your investments, comparing them against relevant benchmarks.
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Asset Allocation and Diversification: Ensure your investment portfolio is well-diversified and aligns with your risk tolerance.
If you’d like help in using this checklist for a financial health check-up, we can help! Whether you’re planning for retirement, investing for the future, or looking to protect your assets, we’re here to listen, understand and help you every step of the way.
Investment Advisor Representatives offer advisory services through BA Schrock Wealth Management, Inc. (BASWM), a registered investment advisor. Insurance is offered through BA Schrock Financial Group, Inc. (BASFG), an insurance company. BASWM and BASFG are affiliated and share common ownership.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.
B.A. Schrock Financial Group
131 College St., Wadsworth, OH 44281
Phone: 330.473.1060
Email: info@baschrock-fg.com
Website: www.BASchrock-FG.com