8 Factors That Determine Your Financial Health

You might be seeing a doctor annually, but are you checking in on your financial health every year, too? While it's easy to ignore the symptoms of ailing finances, they're fairly obvious to spot -- and not terribly difficult to remedy if you can address them quickly.

Learning how to assess your financial health today greatly improves your ability to meet financial goals tomorrow. The idea is to benchmark where you stand now so you can set savings and debt pay-down goals for the future. Then, design and follow a household budget to reach those goals. In a year, you can reassess and rejoice in your progress. Easy, right?

Let's dive into the finer details of your financial health assessment. This framework is adapted from the 2019 U.S. Financial Health Pulse Trends Report, a product of a research initiative designed to understand how financial health in America is changing over time. Researchers defined and surveyed respondents on eight financial health indicators to get a comprehensive picture of household spending, saving, borrowing, and planning. 

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Source Fool.com