Financial Wellness Assessment: How’s Your Money Health?

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When was the last time you gave your finances a check-up? Managing money isn’t just about numbers — it’s about confidence, control, and peace of mind. Knowing your financial strengths and weaknesses is the first step to building sustainable wealth.

In this guide, we’ll walk you through the key areas of financial wellness, provide questions to assess your financial health, and share resources to help you take action.

What Is Financial Wellness?

Financial wellness is more than just your bank account balance. It’s the overall health of your financial life — how well you manage your income, expenses, savings, debt, and financial goals. A strong financial foundation can reduce stress and give you more confidence in your future.

Step 1: Assess Your Financial Wellness

Answer these simple questions — no calculator required!

Income & Budgeting

Do I track my income and expenses regularly?
Do I have a monthly budget that I stick to?
What are my spending habits?

Savings & Emergency Fund

Do I have at least 3-6 months’ worth of expenses saved up for emergencies?
Am I consistently setting aside money for future goals (home, vacations, retirement)?
Do I have a separate savings account for unexpected expenses?

Debt & Credit Management

Do I pay my bills on time, every time?
Is my debt manageable, or am I struggling with high-interest payments?
Do I know my credit score, and am I actively working to improve it?

Investing & Retirement Planning

Am I contributing to a retirement plan (401(k), IRA, or other investment account)?
Do I understand my investment options and risks?
Have I started planning for major life events (buying a home, starting a business, college tuition, etc.)?

Financial Goals & Peace of Mind

Do I have clear short-term and long-term financial goals?
Am I financially prepared for unexpected events (job loss, medical expenses)?
Do I feel confident and in control of my finances?

Score Yourself!

Mostly ✅’s? You’re on the right track — keep it up!
Some ❌’s? No worries! The good news is you can start making changes today.

Want a full breakdown of your financial wellness? Take our FREE Financial Wellness Assessment and get personalized insights here:

Take the Assessment Now

Step 2: Strengthen Your Financial Health

Now that you know where you stand, here’s how to take action in key areas of financial wellness:

1. Create a Budget That Works for You

A budget isn’t about restriction — it’s about taking control of your money. A simple 50/30/20 budget is a simple guideline to controlling your budget:

50% for needs (housing, bills, groceries)
30% for wants (entertainment, dining out, shopping)
20% for savings and debt repayment

It’s a great way to keep your money balanced without giving up the finer things in life.

Pro Tip: Use an online budgeting tool to track your spending and adjust where needed.

2. Build an Emergency Fund

Unexpected expenses can throw off even the best financial plans. Aim to save at least three to six months’ worth of expenses in a separate savings account.

Make It Simple: Set up automatic transfers in your account so when your paycheck is deposited, it automatically transfers a set amount into your savings.

3. Manage Debt Wisely

Debt can be a major barrier to financial wellness if it’s not managed properly. Prioritize paying down high-interest debt (like credit cards) can help you in the long run by not racking up interest charges.

Check your interest rates and look into refinancing or consolidating debt if needed.

4. Plan for Retirement — It’s Never Too Early!

Even if retirement seems far away, starting early gives you the best advantage thanks to compound interest. If your employer offers a 401(k) match, take full advantage of it! If not, consider opening an IRA or another retirement savings account.