Financial Health Check: What’s Working, What’s Not, and What Needs Attention

Tax season is either behind you (phew, you made it!) or still looming over your head like that one chore you keep putting off. Either way, this is the perfect time to check in on your financial health.

If your taxes are done, great! Let’s look at what worked well, what didn’t, and what you can improve for next year. If you’re still scrambling to file, don’t panic—this can double as a checklist to help you get organized. Because even if you’re late, working towards getting them filed is better than ignoring them completely (seriously, the IRS doesn’t just forget about you).

So, let’s go through a quick but impactful financial check-up to see where you stand and where you can make some improvements.

1. Is Your Financial Information Up to Date?

Let’s start with the basics—are your financial records accurate, current, and easy to find? You wouldn’t believe how many people go through tax season only to realize they’ve been working with outdated or incomplete financial data.

Ask yourself:

• Do you know all your bank account balances right now?
• Are all credit cards, loans, and investment accounts accounted for?
• Have you updated any changes in income, major expenses, or new sources of revenue?

If your financial information is scattered across random emails, unopened envelopes, and half-updated spreadsheets, it’s time to clean that up. Consider using a personal finance app, setting up an organized folder system, or at the very least, making sure you can quickly access all your key numbers when needed.

💡 Pro Tip: If you struggled to pull together financial info for taxes this year, set up a system NOW so next year is smoother. Even a simple habit of reviewing your finances once a month can make a world of difference.

2. Is Your Financial Data Reliable?

Numbers don’t lie, but they do get messy. It’s one thing to have financial records—it’s another to know that they’re actually correct.

Think about it:

• Are your expense categories accurate, or did you just throw things into random buckets?
• Did you track all income streams, including side hustles, freelance gigs, or investment earnings?
• Does what you think you spend match what your bank statements actually say?

Many people think they have a grip on their finances, but when they dig into the numbers, surprises pop up—and not the good kind. Maybe you spent way more on takeout than expected. Maybe that “small” monthly subscription is quietly draining your account. Or maybe your tax refund isn’t what you expected because you forgot about a key deduction.

The goal here isn’t to shame yourself, but to make sure your financial data is real and useful. If your current tracking method isn’t working (or doesn’t exist), fix it now before next year’s tax season rolls around again.

3. What’s Working?

Before we dive into what needs fixing, let’s take a moment to celebrate the wins. It’s easy to focus on what’s wrong, but acknowledging what’s working keeps you motivated to stay on track.

Think about the positives:

• Did you hit a savings goal this year?
• Were you more organized with tracking expenses?
• Did you finally pay off a credit card or make a dent in a loan?
• Did you contribute to a retirement account or investment portfolio?

Even if you feel like you could’ve done better, take a moment to recognize the things you did get right. Financial progress is all about small, consistent steps—not perfection.

🔥 Bonus Challenge: If something worked really well for you this year, double down on it. If auto-saving helped you grow your emergency fund, can you increase the amount? If budgeting apps kept you on track, can you refine your categories even further?

4. What’s Not Working?

Now comes the tough part—what’s not going so well?

• Did unexpected expenses throw you off balance?
• Are you carrying more debt than you’d like?
• Do you feel overwhelmed or avoid looking at your numbers?
• Were you hit with surprise tax bills because you didn’t plan ahead?

It’s okay to admit when things aren’t working. The key is to figure out why and start making changes. Maybe you didn’t track expenses closely enough. Maybe you underestimated how much you’d owe in taxes. Maybe your budget isn’t realistic, leading you to overspend.

Whatever the case, pinpoint the issue and take action. No judgment—just solutions.

💡 Action Step: Choose one financial pain point and create a game plan to improve it. If debt is the problem, look into consolidation or a structured payoff strategy. If budgeting is a struggle, test out a new system that actually fits your lifestyle.

5. What Do You Want to Do Differently?

Now that you’ve looked at what’s working (and what’s not), ask yourself: What do you want to change moving forward?

• Do you need to adjust your budget or spending habits?
• Should you set up automatic savings or invest more in retirement?
• Do you need to get better at tracking tax-deductible expenses throughout the year?
• Would hiring a financial advisor or tax professional help you stay on track?
• Do you need to do an insurance review?  
• Is it time to update your will?

Even small tweaks can have a huge impact over time. For example, if you struggled to save this year, automating even a small monthly transfer to a savings account can make a big difference. If tax season was a nightmare, consider keeping better records so next year isn’t so painful.

🚀 Challenge: Pick one financial habit to improve and commit to it for the next 30 days. Whether it’s reviewing your finances weekly, setting up auto-savings, or paying down extra debt, one focused effort can create lasting change.

6. What Needs Your Immediate Attention?

Finally, let’s pinpoint what needs urgent action so nothing slips through the cracks.

• Are you late on taxes? File ASAP to avoid penalties. Even if you can’t pay the full amount, setting up a payment plan is better than ignoring it.
• Do you have unpaid bills or high-interest debt? Prioritize those to avoid unnecessary fees and interest.
• Is your financial system a mess? Take an hour to organize key documents, logins, and records so you’re not scrambling next time.

📌 Action Step: Write down one urgent financial task and schedule time to take care of it this week.

Final Thoughts: Stay Proactive

Whether you’re feeling relieved that tax season is over or still scrambling to get things in order, the important thing is to stay engaged with your finances. The more you stay on top of things, the less stressful money management—and tax season—becomes.

So, what’s your next move? Pick one thing from this list and start today. Your future self will thank you.

💬 What’s one financial change you want to make this year?

Finanical fitness is not a pipe dream or a sate of mind. It’s a reality if you are willing to pursue it and embrace it.

Will Robinson

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