The arrival of April means we are almost a third through the year. Has the lack of foresight taken a toll on your financial health? It’s not too late to pull up your socks and buck up for the rest of 2020!
The questions in this financial health checklist are not in order of importance; but rather, all important in one way or another! Ask yourself these (and be absolutely honest in your answer!):
✔ Do I have a monthly budget to manage my income and expenditure?
✔ Do I have a habit of saving a fixed amount from every pay check?
✔ Do I have an emergency fund with at least six months of living expenses saved up?
✔ Do I have a clear picture of how much short-term and long-term debt I possess?
✔ Do I review my financial goals every half year or annually?
✔ Do I set a different timeline for each financial goal?
✔ Do I have disability insurance to provide for my family should the unexpected happen?
✔ Do I have adequate life insurance coverage right now?
If you have answered “yes” to at least four of the questions, you can breathe a little easier. But passing the mark doesn’t put you in the clear – there are so many aspects of Life Planning that cannot be covered by an eight-question checklist.
Connecting with a financial consultant can help you clarify your life goals and even uncover existing protection gaps that you were not aware of. Together, you can find the right solutions to cater for your ambitions and aspirations. Reach out to us today – it’s time to take your Life Planning seriously!
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