Quick Guide to Financial Wellness Check

3 min readJan 8, 2024

As we step into a new year, it’s the perfect opportunity to pause and reflect on our financial well-being. A financial wellness check is not just about reviewing numbers; it’s about aligning your financial habits and goals with your life’s aspirations. In this blog post, we’ll guide you through a simple yet comprehensive checklist to help you review and plan your finances for a prosperous year ahead.

1. Review Your Budget

Begin by examining your current budget. Look for changes in your income and expenses and adjust your budget accordingly. Identify any unnecessary expenses and consider ways to reduce them. A well-planned budget is the foundation of financial wellness.

Key Questions: Have your income or expenses changed? Are there areas where you can reduce spending?

2. Set Financial Goals

Setting clear financial goals is essential. Whether it’s saving for a vacation, buying a home, or building an emergency fund, having specific targets gives you direction and motivation. Ensure your goals are SMART: Specific, Measurable, Achievable, Relevant, and Time-bound.

Key Questions: What are your short-term and long-term financial goals? How realistic and achievable are they?

3. Emergency Fund Check

An emergency fund is your financial safety net. Aim to have at least three to six months’ worth of living expenses saved. This fund should be easily accessible and separate from your other savings or investment accounts. Have you considered the option of gold? Allocating a portion of your emergency fund to gold could offer protection against inflation and currency devaluation, thereby safeguarding its value over time.

Key Questions: Do you have enough saved for unexpected expenses? Is your emergency fund easily accessible?

4. Investment Review

Regularly review your investments to ensure they align with your current financial situation and goals. Diversify your portfolio to spread risk and consider rebalancing it to maintain your desired asset allocation.

Key Questions: Are your investments aligned with your risk tolerance and goals? When was the last time you rebalanced your portfolio?

5. Consider Gold

Gold can be a valuable addition to your investment portfolio, especially in times of economic uncertainty. It often acts as a hedge against inflation and currency devaluation. Consider allocating a portion of your portfolio to gold to diversify and stabilize your investments.

Key Questions: Have you thought about diversifying your portfolio with gold? What percentage of your portfolio is allocated to precious metals?

6. Plan for Retirement

Planning for retirement is a long-term process. Assess your current retirement savings, understand your future needs, and adjust your saving strategy accordingly. Consider factors like inflation, healthcare costs, and lifestyle changes in your retirement planning.

Key Questions: Are you saving enough for retirement? Are your retirement savings on track to meet your future needs?

A financial wellness check is a powerful tool in your journey towards financial freedom and stability. By regularly reviewing your finances and adjusting your strategies, you can ensure that you’re on the right path to achieving your financial goals. Remember, financial wellness is not a destination but a continuous journey of making informed decisions and adjustments as your life evolves.

➡️ Take Action Today and embark on your journey to financial empowerment with Aufort. Your future self will thank you!