Your Annual Financial Checkup: 10 Numbers to Review Every Year

Once a year — ideally in January or on your birthday — sit down for 30 minutes and review these 10 numbers. This single habit provides more financial clarity than months of casual worrying. Here is each number, what it should be, and which ClearCalc tool to check it.

1. Net Worth. Everything you own minus everything you owe. Target: increasing by at least $10,000-$30,000 per year in your 30s, more as income grows. Track it yearly to see the trend. Use the [net worth calculator](/calculators/net-worth).

2. Savings Rate. What percentage of gross income you save and invest. Target: 15-20% minimum, including employer match. Use the [budget calculator](/calculators/budget) to calculate yours.

3. Emergency Fund Coverage. How many months of expenses your emergency fund covers. Target: 3-6 months. Self-employed: 9-12 months. Use the [emergency fund calculator](/calculators/emergency-fund).

4. Debt-to-Income Ratio. Total monthly debt payments divided by gross monthly income. Target: under 36%. Red flag: over 43%. Use the [affordability calculator](/calculators/can-i-afford).

5. Credit Score. Check at least once a year for free at AnnualCreditReport.com. Target: 740+. Below 670: take action immediately (payment history and utilization are the two biggest factors).

6. Retirement Savings vs Target. Compare your current balance to the Fidelity benchmarks (1x salary at 30, 3x at 40, etc.). Use the [retirement gap calculator](/calculators/retirement-gap).

7. Investment Returns. Check that your portfolio returned at least close to its benchmark. An S&P 500 index fund should match the S&P 500 index. If your actively managed fund significantly underperforms, switch to index funds.

8. Insurance Coverage. Review health, auto, home/renter, life, and disability insurance annually. Are coverage amounts still adequate? Are you overpaying? Get competing quotes every 2 years.

9. Tax Withholding. Did you get a large refund (over $1,000) or owe a large amount? Either way, adjust your W-4. A large refund means you gave the government an interest-free loan all year. Use the [tax bracket calculator](/calculators/tax-bracket).

10. Subscription Spending. Add up every recurring charge — streaming, gym, apps, software, delivery services, memberships. Average American spends $219/month on subscriptions. Cancel everything unused in the past 30 days. Use the [budget calculator](/calculators/budget) to audit.

The annual review takes 30 minutes and gives you a complete financial snapshot. Most people have never done this — which is why most people feel anxious about money. Knowledge replaces anxiety. Run through all 10 numbers, write them down, and compare to last year. Improvement in any direction is progress.

Frequently Asked Questions:

When should I do my financial checkup? January (start of year, fresh motivation), your birthday (easy to remember), or tax time (you are already looking at financial documents).

What if multiple numbers are bad? Prioritize: emergency fund first, then high-interest debt, then retirement savings. You cannot fix everything at once, but you can start the trajectory in the right direction today.