fall financial check up

The Reasons Why You Need A Fall Financial Check-Up

If you want to improve your financial well-being, a fall financial checkup is in order in the coming weeks. As winter and a new year approach, it’s time to take note of where you are in your finances so you can get to where you want to be.

As we all know, life can get busy, and sometimes checking on your finances can get pushed aside for weeks or even months. Here are the top 4 reasons why you need to make a fall financial checkup a priority.

Reasons Why You Need To Check Your Finances This Fall

1.    To Prepare For Milestones

A fall financial checkup should be a part of a series of checkups you complete throughout the year. If this is your first one, don’t worry – it’s always better late than never.

A financial checkup helps keep you on track for major milestones like getting married, buying a house, having children, retiring, and other big life changes. If you don’t check on your finances periodically, you can’t be sure you’re on course to meet the financial obligations of upcoming milestones.

2.    To Review Financial Goals

Some of your milestones are surely tied to financial goals. For example, you may want X amount of dollars to purchase a home or to retire. It’s important to review these financial goals as a part of your fall financial checkup and edit them if need be.

With inflation, varying costs of living, and unexpected expenses, it’s normal to adjust your financial goals as time goes on and change your spending habits accordingly.

3.    To Assess Your Debt

While you may know the general ballpark amount you owe, things like interest on a mortgage or other fees on your debt could hike up the total amount.

It’s important to not only be aware of your debt but also know how it correlates to your income. The debt-to-income ratio will impact things like your credit score and ability to get a loan, so staying on top of it is vital.

4.    To Review Your Financial Health

Financial checkups, much like physical checkups, are a way to measure overall health. Financial health includes the state of your finances, savings, debt, retirement accounts, and spending. Ideally, you’ll want to have good financial health, and keeping up with your checkups is an essential part of this.

If you complete your review and find that your financial health could use some attention, you can make the necessary changes to get yourself back on track.

stethoscope with installment loan cash for Reasons why you need a fall financial checkup

How To Complete A Financial Checkup

If you’re ready to complete your own financial checkup, here are the three main actions you should take.

1.    Examine Your Spending Habits

Financial checkups are all about what you spend money on and how much you spend.

The first step of your checkup is to sit and figure out where your money goes every month and how much you spend on needs versus wants. This will take some time, organization, and a review of your accounts, but it will be well worth the effort once you have a clear picture of your monthly financial habits.

2.    Set Up Your Budget

If you don’t have a budget already, it’s time to set one up. If you already have a budget in place, it’s time to review it and compare it to your recent spending. If they don’t align, it’s time to adjust one or the other.

Try to stick with a budgeting rule for this step, such as the 50/30/20 rule or Zero-Based Budgeting.

3.    Determine Your Goals

This step should align with number two so that your financial goals match up with your budget. Take into account any upcoming life or financial milestones and savings goals to make sure you’re on the right track. Think of this like making an exercise and diet plan to meet your health goals, except it’s for your wallet.

4.    Face Your Financial Emergencies

The last step of a healthy fall financial checkup is making sure you’re facing any financial emergencies or paying immediate expenses. If your car broke down, your house needs an urgent repair, or you’re facing an unexpected medical bill, you’ll need cash fast to get this worry taken care of. This is the time to consider an installment loan from Carolina Title Loans, Inc.

installment loan written with cash on table

Improve Your Finances This Fall

If you need money fast this fall, Carolina Title Loans, Inc. offers installment loans for up to $1,500. If you meet a short list of requirements, you could complete the loan process in as little as 30 minutes and have extra cash in your pocket by the end of that same day or the next business day.

Installment Loan Requirements

Carolina Title Loans, Inc. doesn’t require good or excellent credit to apply, nor do they require collateral. All you need is:

  • Your license or Carolina state I.D.
  • A checking account in your name
  • Proof of income through your most recent pay stub

Get More Cash This Fall

If you’re ready to complete your fall financial checkup and cover any pending urgent costs with an installment loan from Carolina Title Loans, Inc., you can get started with our online inquiry form or give us a call. A knowledgeable representative is waiting to answer any of your questions and see if you can be approved for up to $1,500 today.

So, why put off your finances any longer? Get yourself back on track financially today – we are waiting to help you!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.