Bangalore: When we examine our "priority" lists, our finances tend to be near the bottom. Yet, when we examine our "worry"list, finances are usually near the top. You may have had your annual physical check up to ensure your are in good health; similarly you would even take your car for servicing on time, but what about your annual financial checkup? When you plan a road trip you keep a map and heck if you heading in the right direction, similarly your financial check require you to do the same. You see companies coming up with their quarterly reviews, the balance sheet, the result season. If company reviews are so important, then why not the review of an individual's financial situation? A Financial check up provides you an opportunity to review how you've done financially over the past twelve months and make sure you're still headed in the right direction. You can review your current financial situation on an ongoing basis. Having a more-involved personal and financial life is a good thing as it shows how you have grown over the period of time. Our dreams and needs keep on changing with different stages of life or circumstances in life. A constant monitoring of your finance helps you to adjust all of these in best possible manner and also help you in planning your finances in the most optimum manner. Identify Your Goals and progress The first step in your financial checkup is evaluating your financial goals. Without financial goals and specific plans we drift along and leave our future to chance. You might have different financial goals be it saving for your kids, buying a car, moving into your dream home. Find out if you have made progress on these goals this year? If you don't notice any progress find out where you lacking and why you are deferring from this goal? It is possible you might have a few changes in the list that prioritize your goals. If you have new goals or have made some changes note that down. Based on your needs break your financial goals into short term and long term goals. Review your investments You always struck with this thought of "when is the good time to make an investment?" But there is no concrete answer to this question for everyone. Whether you make frequent changes or rarely touch your investments this is a good way to check and make sure things on still on track. Check if your investment strategy needs to be changed? Check if any target date fund just changed their investment strategy or increased the expense ratio. Make sure that whatever your investments are that they are a reflection of how you plan on reaching a goal. Evaluate Your Debts You should evaluate your Debt to income ratio. That shows how well you are doing on controlling and paying down debt? Find out if your credit card debt decreased this year. If you don't see any improvement you should figure out your spending nature and try and work on it so that you have sufficient funds to pay back. It's difficult to get ahead and invest when too much of your income is going to interest payments on credit cards. If you have availed a loan find out what is the interest rate? Because a slightest change in the interest rate does make a huge difference to your finance. Above all don't forget to have a check with on your credit score. Reduce Your Income Taxes You can plan for next year's taxes. Look for ways to minimize your tax. If you are eligible for allowable deduction, utilize it. Try and pay tax-deductible items early that will help you to reach the threshold for deducting. The benefit of personal finance check up is that you will know your current financial situation and can take actions accordingly to be safe and secure. You can free yourself from all debts and have your goals in safe place. You can optimize your assets or your money and also have a stress free retirement. Above all you can multiply your money.