Conducting a financial health check is one of the important steps to take. To make sure, check regularly in your finances.
Your financial health will certainly be very influential on life as a whole. So, it is appropriate if you do have a fixed agenda to perform this financial check. The goal, which is sure to be able to know your current financial condition.
This is needed to help you make decisions, as well as handle the various problems that occur within the finances. If you know the financial situation clearly, then the decisions that will be taken on finance will also be more targeted.
This will certainly be much better when compared with taking a decision without seeing clearly the overall financial situation. If you look at how important the benefits of financial health checks, then certainly will be necessary to not be ignored.
To find out and make sure your financial condition is healthy, note the following:
1. When to Check Financial Health Checks?
Basically, the awareness of Indonesians to conduct financial health checks is still relatively low, although in fact this is very important and provides many benefits. Of course, this is very unfortunate, especially for those who are experiencing serious financial problems and need special handling in quick time.
Perform your financial health checks at least 4 times a year. That is, to review the financial condition periodically every 3 months. This will make it easy to quickly make changes to the allocations if necessary, and the financial problems are not protracted.
However, there are times when you need to check for periodic financial checks, but at certain moments such as post-marriage, calamities, salary increases, even after termination, and much more.
In the face of some of the above events, a financial health check is urgently needed, so that the various actions, adjustments and decisions that are important in the finances can be done right away.
2. What Data is Needed for a Financial Health Check?
In doing a financial health check, you will certainly need complete data related to your overall finances. The various components of this data will be the basis for the examination of your financial condition. Some data that must be completed when going to check the financial health are:
The amount of income
The first thing as a tool for financial check is the amount of income earned each month. The data from your income is indispensable because from here the count begins. Data from this income include the amount of salary or income from business results, as well as other income in the form of holiday allowance (THR) and bonuses.
The next financial health check support data is the value of the assets you own. At the very least, you must know how much the amount of existing assets, whether current assets or non-current assets and assets of your investment. Calculating the total amount of these assets will be very important to see the condition and also the latest financial capabilities you have.
What financial goals are set
The financial goals you choose also become components in performing a financial health check. Because, like what the financial goals set since the beginning, will affect your financial condition. In addition, your current financial condition must also be adjusted to be able to achieve the various financial goals that you set it.
How much debt is there
The data required for other financial health checks is the amount of debt you have. This is important because debt is a liability that must be returned, and it certainly takes some money from the income it receives. There is a lot of debt that must be included in this financial health check component, such as mortgages (KPR), KTA (Credit Unsecured), credit cards and other debt outside the bank, for example borrowing to relatives, friends, and others.
The amount of spending
In this data, all expenditures are recorded in detail, which strongly supports the financial checks well. This expenditure record covers the various posts, such as monthly basic expenses, routine billing costs such as electricity, water, and others, then the cost of Child Education, health or insurance, and other expenses.