Have you seen your doctor lately?
Your annual physical often includes a set of measurements to check your health: Your doctor listens to your heart, your breathing and may draw blood to check your cholesterol and more.
But did you know that there’s a set of measurements you can check yourself to learn about your financial health?
There are 10 important numbers (or "signals") that give you critical information about your financial fitness. These include your income, savings, credit, debt and more, and each one can give you useful knowledge.
As a credit union member, you have access to a variety of tools, resources and people to help you get on the right path to financial health, so don’t hesitate to call, send us a message or stop by a branch for assistance.
Here are the numbers you should pay attention to this year as you embark on your 2026 (financial) health journey.
Income – Are you making enough money to make ends meet and save a little bit for future needs? If you are, that’s great and we’re happy for you! If not, take some time this year to figure out how to make more money, whether it’s asking for a raise, picking up a second job or something else.
Spending – Are you spending more than you make, or has your spending crept up over the past few months? Take a good look at your spending to see where the money is going and how you can lower this number! It may be time to switch your cable company or cell phone provider to take advantage of deals, or cut subscriptions you’re no longer using, or start eating at home more often.
Credit Score – This is the number that can determine how much interest you pay on loans and whether you get approved for that new credit card. Take a look at your credit score (you can check it annually through freecreditreport.com) and see where you land! If you see mistakes on your credit report, make some phone calls to get those fixed.
Debt Progress – Are you whittling away at your debt, or is it growing? If you have a lot of debt, you’ll want to make a plan to reduce it.
Emergency Savings – Do you have a few months of living expenses saved up somewhere that you can access quickly? A job loss or an unexpected car or home repair can really throw off your financial picture. Make sure you have enough saved up to ride out the rough spots.
Insurance Coverage – Do you have enough insurance to cover accidents and more? Whether it’s home or renters insurance, car insurance, health insurance or life insurance, take a look at your policies and assess whether you think your coverage will take care of you if the worst happens!
Retirement Savings and Timeline – Check on your retirement accounts and see how much you would have if you retired today. Then, get an estimate of how much those accounts will be worth when you retire. (Most 401K, pension and other investment programs have calculators on their websites to help you with this part.) If it seems like you’re a little bit behind where you should be, come in and talk to one of our financial professionals at CommonWealth One about how you can catch up!
Investments – Do you have investments outside of retirement that are working for you? These can include mutual funds, stocks, interest-earning savings accounts or other investment vehicles that can help you reach your financial goals outside of retirement. If your only investment is in your retirement account, come talk to one of the investment professionals at CommonWealth One to see what else you can do!
Net Worth – This is a critical number that can tell you how much you’re worth. You’ll add up all of your bank accounts, investment accounts, the equity in your home and anything else of value, and subtract your debts. A lot of adults who are just starting out in life have negative net worth, but that should move into positive territory quickly. If you’re in your 30s, 40s or older and have negative net worth, you need to talk to a financial professional about getting that number on the plus side.
Financial Stress – This is a more subjective number, but financial stress is an important consideration, as it can affect your mental and physical health. Are you lying awake at night worrying about money, or are you sleeping soundly? This matters a lot, and putting your stress on a scale of 1 - 10 can give you a signal about what you should focus on this year.
If you’re looking for a quick way to assess your financial fitness, head over to the CommonWealth One KOFE website, where you can take advantage of member-only resources, financial education and a financial fitness test, too! (KOFE is free, but you will have to register to use the resource.)
Remember, CommonWealth One is here for you, for life — through all of your life’s phases! If any of the above signals aren’t working for you, from a low credit score to too much debt, we want you to talk to us about ways to improve. We look forward to seeing you soon!
