Just as we practice staying in good physical health, it’s also important to be sure we are practicing good financial health. Financial check-ups are a great way to be sure that you and your family are on the right financial track. Here are 12 tips to help get you started.
1. Track spending to know where your money goes. Identify expenses that can be reduced or eliminated—and take immediate action.
2. Expect and prepare for emergencies. Aim for six months worth of expenses set aside in a liquid account.
3. If housing costs are too high, consider downsizing, renting or home sharing with friends or family members.