ASIC has recently released a new Money Health Check.
The Money Health Check helps you take control of your money.
- It asks you some easy questions about your personal finances
- It gives you simple steps and tips to improve your situation
The check works by asking you a few simple questions about your financial goals, income and expenses, debts, retirement and assests. At the end of the questions the Money Health Check provides you with a report on each area and provides step by step tips on how you can achieve better money health. These tips can be saved, emailed or printed at the user’s convenience. Despite the questions being broad and general the Money Health Check only takes a short time to complete and could help you determine where your money is going and how you could better manage it.
As it is a non-personal tool however, ASIC advises those with extreme financial circumstances gain advice from a qualified financial advisor.
ASIC provides other tools to help you track your spending such as those described in this relate article How to keep track of your spending