Financial Health Check
In a perfect world, we’d all stay financially fit: have the money we need, when we need it; have a budget we can stick to, save regularly and make mindful choices when it comes to spending.
Yet, just as with personal health, sometimes things can go a little awry and it makes sense to get a health check to make sure everything is okay, or to take action before anything becomes more serious.
The Money Advice Service has a free online money health checker tool that can give you a clear picture of where you stand with your finances and provide free and unbiased advice.
Why don’t you give it a try? It’s not only about financial problems (although it can help there too) but also your attitude to money and your long-term plans, such as wills and rainy day savings accounts for emergencies. After the check you’ll receive tailor-made advice plans with simple tasks and tips to help you along the way.
If you’re still not sure, take a look at these questions below – how many of these can you answer ‘yes’ to?
1. I have a really positive attitude to managing my money (yes/no)
2. I know exactly how much money I have coming in every month (yes/no)
3. I know exactly how much money I have going out every month (yes/no)
4. I set a realistic budget that I can live by (yes/no)
5. I never pay bills late (yes/no)
6. I save (yes/no)
7. I have money that I could access in an emergency (yes/no)
8. I know how I’d cope with an unexpected cost I couldn’t afford to pay myself (yes/no)
9. I have an up to date will (yes/no)
10. I’ve thought about what money I’ll have when I retire (yes/no)
You can access the free tool here and you’ll be in good company. Over 500,000 people have given themselves the money health check and over 3.2 million advice plan have been delivered.