When we hear words” fitness” or “check-up”, we tend to focus on our physical being. When we say “regular maintenance” you imagine your car, home or even your pets. In these uncertain financial times, “Financial fitness” is just as important as any other portion of living a healthy life. Taking the time to do an annual financial check-up is a great way to make certain we are making the best decisions to achieve our goals and dreams.
Taking an annual inventory of the way we spend and save money is a great idea and can
contribute to wellness by reducing stress and empowering us to have a greater hand in
our own success. If you work with a Certified Financial Planner, Accountant or Wealth
Advisor, these professionals are easily able to collect the data needed to take your
“financial pulse”. By collecting paycheck stubs, checking & credit statements, titles and
mortgage information for homes, tax returns, insurance policies, etc, these folks gain
insight on good and bad facets of our financial habits and offer advice to correct missteps
or change strategies. Making yourself aware of these financial habits and what they mean to you today, and their impact on your future, can help you take the often simple steps to
improve current positions and may even offer possibilities to maximize your potential. However, depleted funds, market volatility, and technological innovations have sparked a growing number of “do-it-yourself” investment and tax preparation websites that may not address the big picture!
In this age of easily accessible (and often free) resources, tools and articles, there are less excuses not to take the time to asses your current positions and adjust accordingly. There are some really great and user friendly sites and tools on line such as: The motley fool, and CNN Money. In addition to a litany of articles available, it can give us some great insight on how “fiscally fit” we are and identify where we could use a little help. Please always remember with anything on the web, maintain an eye on the security and credibility of the information and never be afraid to get a second opinion!
Identifying shortcomings in our spending, investment or savings strategies and taking the
steps to better utilize your own resources is like finding money, better still its like finding YOUR OWN MONEY! Whether you are single or married, independently wealthy or just getting by, remaining in charge of your health, wealth and future should remain at the TOP of your to-do lists at least once a year.
As the old adage goes “timing is everything” and timing this review should be done at the
very beginning or end of the year and a quick look back come tax time, just to make sure
that you are following through on your goals and charting your progress. But there is no
time like the present, even if you’ve never have reviewed your financial health being
before, make an appointment with your professional resources or yourself. This is the
best way to have more control of you financial future and total well being!
– Antony J DiBruno
Antony studied Accounting and Finance at Temple University and has 14+ years experience in private banking/mortgage and underwriting. He has traded mortgage back Securities for 6+ years and is currently at Wells Fargo as a Mortgage Consultant in Philadelphia.
Look for Antony’s articles in the upcoming PHW online Magazine! Go to home page and subscribe for free!