Prioritising your financial health is just as crucial as your physical health. Explore these five essential financial checks to ensure you’re on track for a prosperous 2026.
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When it comes to our physical health, many of us are super diligent (especially at the start of the new year), hitting the gym often enough to finally qualify for that free Kauai smoothie, committing to healthier habits, and getting our annual check-ups with the GP, gynae, or dentist booked in the diary.
But while your physical health is important, don’t neglect another critical aspect of your life: your financial health.
We’re often very disciplined about booking health check-ups and paying attention to what our bodies are telling us, but far less proactive about our finances. A financial health check follows a similar logic; it’s about getting the right expertise, understanding where you stand, and making small adjustments to course-correct, where needed.
Here are 5 financial health checks you shouldn’t skip in 2026
Find the right specialist
Just as you wouldn’t self-diagnose a serious health concern, managing your finances isn’t a DIY job. A qualified financial adviser plays the role of your specialist, someone who understands your full financial picture and who will consult with you to help you build and protect your financial dreams.
Beyond choosing products, a good adviser helps you ask the right questions, challenge assumptions, and make informed decisions as your life evolves. Importantly, they also act as an objective sounding board when emotions threaten to derail long-term plans.
Book your annual check-up
Most people accept that annual health check-ups are non-negotiable, yet seem to lack that same discipline when it comes to their money. A financial check-up should review key areas such as your budget, risk cover, short-term insurance cover, and investments to ensure they remain appropriate. Are you over- or underinsured? Are your savings, emergency fund, and retirement contributions still adequate? Is your will up to date?
Even small changes in income, expenses or family circumstances can quietly throw things out. For example, if your income has steadily grown over the course of a few years due to annual increases and promotions, the amount you set for yourself as your retirement target a few years ago might be outdated now and in the future.
Regular reviews will help to ensure your financial plan stays relevant and aligned to your goals.
Set your treatment plan
A diagnosis without a treatment plan is redundant, and the same applies to your financial health.
Once you know where you stand, set clear goals for the year ahead. These could include building an emergency fund, paying off debt, increasing retirement contributions, or planning for a major milestone such as buying a home. Well-articulated goals, with concrete action to get you there, add structure and accountability, helping turn good intentions into real progress.
Reset unhealthy habits
When a health issue is identified, lifestyle changes usually follow, and your finances should be no different. Once you’ve assessed your position, it’s important to consider whether your current saving, spending, and investment habits still match up with your aspirations.
For example, if you tend to let your emotions guide your investment decisions or purchases, now is the time to reset. Small adjustments made early often have a far greater impact than dramatic changes made too late.
Track your vital signs
Doctors rely on vital signs to measure progress over time. In your financial life, your net worth plays a similar role. Understanding what you own versus what you owe gives a far clearer picture of your financial health than your monthly salary alone, and tracking this annually allows you to see whether you’re moving forward. It also provides a valuable benchmark for future planning, helping you and your adviser assess whether your current plan is delivering long-term improvement.
Here is a simple formula for measuring your net worth: subtract what you owe from what you own, adding up assets like savings, investments, and property, and then deducting debts such as loans and credit cards. If your property is bonded, it still counts towards your net worth, but only the portion you actually own. For example, if your home is worth R3 million and you still owe R1.5 million on the bond, your net worth reflects the R1.5 million equity, not the full property value.
Good financial outcomes don’t happen by accident. They’re the result of regular check-ins, informed decisions, and a willingness to adjust as circumstances change. Treating your money with the same discipline as your health can ensure a healthier, issue-free future.
* Wolmarans is the franchise principal at Consult by Momentum.
PERSONAL FINANCE