Most of us never do. In fact, such a check is important to be able to immediately find out if there is a problem on your finances and can be addressed. If you have never done this kind of examination, the following information can be a picture of how the financial checks done? Already healthy is your finances?
Financial health check aims to determine the true state of our finances compared with the ideal financial standards. Although, financial checks necessary to fix your finances, but awareness for such checking is still rare in the western state.
Ideally, this kind of examination should be performed at least once a year. Most good if it could be done 3 times a year. Financial health check is recommended to be done if there are major changes concerning your financial and family, such as getting married, changing jobs, unemployment or death.
FIRST STEP FINANCIAL CHECK
The first step is your current financial checks are required to fill out a form to get data from the client. Data to be recorded include:
INCOME
On the income, will be asked to write a regular income as a monthly salary, income derived occasionally as THR (Allowance) or bonuses.
EXPENDITURE
All types of expenditure should be recorded in detail and detail. Start of monthly expenditure that is definitely like school fees, dues hygiene, electricity, telephone, etc. Likewise with annual expenditures. All expenditures in small quantities should also be noted.
ASSETS
In the form of assets or property that you have. Assets are grouped into several categories. First, current assets (eg: the amount of savings in the bank, precious metals, etc.), non-current assets (eg, house, land, etc.), investment assets (eg, mutual funds, bonds, retirement savings), and asset consumption (eg: cars, motorcycles, etc.).
DEBT
Is an obligation that you have. For example, mortgage (mortgage), KPM (Car Loan), KTA (Loan), credit card debt or debt rather than to finance lembanga such as debt to family, relatives or friends.
FINANCIAL GOALS
You will be asked to write down what your financial goals. For example, for the children's education fund, saving for retirement, marriage, etc.
FINANCIAL RATIOS HEALTH INSPECTION
After getting the data above would look if your finances are healthy or not. Some of the main comparison is the basis for assessing the client's financial health is:
Liquidity Ratio
Comparison of current assets with regular expenses> 1
Saving Ratio
Comparison Saving for investment with regular income> 10%
Debt Ratio
Comparison of debt with regular income <30%
RECOMMENDATIONS OF FINANCE
If the results of the examination of your finances look unhealthy, financial planner will help to finish by looking at what is causing your finances are not ideal.
For example, if you owe consumer goods exceeds the capability, it is recommended you can be careful in spending money. Other examples such as the amount of debt and interest to be paid, the solution you have to pay off the debt, mainly to pay the debt that has the greatest interest. Other cases, for example if you have too many credit cards and many consumer transactions with use, it is recommended that you close a credit card there, leaving only one credit card with a small limit or do not use credit cards at all.
Financial health check is one way that you do not engage the financial problems that will complicate your life.
