What is a financial wellness check?

A financial wellness check is an assessment of an individual’s overall financial health and readiness. This comprehensive evaluation goes beyond simply looking at specific aspects, such as credit scores or budgeting for monthly expenses; it encompasses a broader view of a person's financial situation. This includes income, debt levels, savings, insurance, investments, and future financial goals.

By conducting a financial wellness check, individuals can identify their strengths and weaknesses in various financial areas, allowing for a more informed discussion about their financial decisions moving forward. It provides a holistic picture that helps people understand how their current financial practices align with their long-term objectives, ultimately fostering better financial decision-making.

Other options focus on narrower aspects of financial health, such as only reviewing credit scores, focusing solely on monthly budgeting, or meeting with an advisor for investment discussions. While these are all important components of financial management, they do not encapsulate the comprehensive nature and purpose of a financial wellness check.