Where Do You Stand Financially?

By | February 10, 2013

An overview of “the big picture” is a big deal when it comes to your money. Sometimes we get so focused on the small details that we forget to take a step back and see where we are in terms of the entire financial plan. Or, perhaps you have focused so much on one aspect of your finances that you have neglected other aspects. In either case, you need to take a financial time out from what you’re doing and assess the whole situation, as well as the component parts.

If you really want to make sure that you are on track for a secure financial future, you need to get an overview of your entire money situation as it stands right now. Only then can you take the practical steps needed to move forward. If you want an easy way to see your current situation, MyMoneyCheckUp (Spanish website) is a great resource.

MyMoneyCheckUp from the NFCC

The National Foundation for Credit Counseling has provided a web site devoted to showing consumers where they stand. MyMoneyCheckUp is a free tool that looks at the numbers related to your financial situation, as well as your own attitudes about money. Some of the items addressed with MyMoneyCheckUp include:

  • Budgeting
  • Debt
  • Savings
  • Your home
  • Retirement

These are major aspects of your finances that you should be considering as part of the bigger picture. You are also asked questions about where you get your financial information, how you feel about your situation, and what you understand about how money works. That this tool assesses how feel about your situation is important. It means that it can help you figure out how to arrange your money matters so that you enjoy greater peace of mind, as well as increased financial stability.

It sounds like the whole thing should take a long time, but the tool is very good at getting right to the heart of the financial matter. You can complete the questionnaire (which is also available in Spanish) in 10 to 15 minutes. It doesn’t take very much time at all, and is well worth the investment of your time.

Take Action to Improve Your Finances

Not only does MyMoneyCheckUp tell you whether you are on track in major areas of your financial life, but it also provides you with actions you take to improve your situation. Since 1951, the NFCC has provided financial education, and MyMoneyCheckUp is no exception to this mission. The tool tells you specifically what you can do to improve your situation in each of the main areas of financial fitness. You also see links to various resources that can give you additional information about topics of interest including retirement, purchasing a home, credit, and insurance. If you feel like you need even more personalized help, you can contact the NFCC.

Overall, this new tool provides you with big picture information on your finances, as well as actions you can take to improve. MyMoneyCheckUp is free, only takes 10 to 15 minutes of your time, and what you learn can be vital in helping you improve your finances going forward.

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