Fighting the financial flab

Getting fit and healthy is important for everyone. Getting you finances in shape may need the same kind of attention. Use this checklist to assess how healthy your financial management is. Do you know how much money is going out and coming in? Do you have a financial plan for the next year, five years? Get a rainy day fund equal to about three months income. Pay extra on home loan. Get the best available rate on savings. Pay off credit card in full each month.

Source: The Age