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Chris Worby, a reputable financial advisor and provider of Wealth Management services in Regina, is a trusted professional with more than two decades of expertise. Worby Wealth Management caters to individuals, families, and business owners in the Regina area, and we deliver exceptional financial and wealth management services. The team at Worby Wealth Management is attentive, crafting personalized financial plans to meet clients’ unique needs. Chris Worby’s priorities include physical health and wellness, and in his most recent wealth management tip, he explains why incorporating an annual financial wellness check is a smart move!

financial health physical

A Financial Wellness Check Is Your Annual Financial Physical

Just like your physical health, your financial health deserves a regular checkup. Think of it as an annual financial physical to ensure everything is in tip-top shape. In this blog post, we’ll explore the fun side of doing financial checkups and highlight some entertaining and essential steps to keep your finances healthy.

Start with the Money Mindset Warm-Up
Kick off your financial checkup with a positive mindset. Reflect on your financial goals, achievements, and even the financial lessons learned throughout the year. Embrace a can-do attitude as you embark on this annual financial adventure.

Cardiovascular Fitness – Review Credit Scores:
Your credit score is like the cardiovascular system of your financial health. Request your credit report and review your score. Celebrate any improvements and strategize on how to maintain or enhance your financial cardiovascular fitness.

Flexibility Training – Evaluate Your Budget:
Just as flexibility is key to physical health, financial flexibility is crucial for financial wellness. Review your budget and assess its flexibility. Are there areas where you can be more adaptable, allowing for unexpected expenses or new financial goals?

Woman by pool working on her finances Strength Training – Assess Emergency Fund Muscle:
A robust emergency fund is the strength training of your financial portfolio. Check the muscle of your emergency fund—ensure it’s strong enough to handle unexpected financial challenges. If not, consider giving it a workout by increasing your contributions.

Nutritional Health – Review Spending Habits:
Like a balanced diet is essential for good health, a balanced spending plan is crucial for financial well-being. Review your spending habits and identify any areas that need a nutritional boost or trimming. Maybe it’s time for a financial diet of unnecessary expenses.

Mental Health Check – Evaluate Investments:
Your investment portfolio is the mental health component of your financial well-being. Assess the mental health of your investments by reviewing their performance and making any necessary adjustments. Consider diversifying to keep your financial mindset sharp.

Vision and Dental – Review Insurance Coverage:  
Just as regular vision and dental checkups are vital, so is reviewing your insurance coverage. Ensure your health, life, and property insurance align with your current needs. Consider if any gaps in coverage need attention.

Get Active – Explore Passive Income Opportunities:
Physical activity keeps your body in good shape, and exploring passive income opportunities keeps your financial muscles active. Look into side hustles, investments, or other passive income sources. It’s like doing financial yoga for your portfolio.

Annual Health Fair – Financial Literacy Check:
Put time aside annually to educate yourself on new financial trends, tools, and opportunities. Stay informed about the latest financial news and explore educational resources to maintain your financial IQ. Make an appointment with me—I will always know what is new and worth considering for your unique situation! 

Celebrate Your Financial Milestones:
Finally, celebrate your financial victories! Whether it’s paying off a credit card, reaching a savings goal, or successfully sticking to your budget, acknowledge and reward yourself for the milestones achieved during the year.

A financial checkup doesn’t have to be daunting—it can be an enjoyable journey toward financial well-being. Embrace the process with a positive mindset, have fun exploring the various aspects of your financial health, and celebrate the victories along the way. Just like maintaining physical health, regular financial checkups contribute to a happy and prosperous financial life. So, gear up for your annual financial physical and let the fun begin!

Chris Worby from
Worby Wealth Management helps you live your dream!