Conducting a personal finance audit every quarter is a powerful way to stay financially healthy and on track with your goals. Unlike daily budgeting, a quarterly audit gives a big-picture view of your financial progress and highlights areas for improvement.

Start with your net worth. Calculate your assets — such as savings, investments, and property — and subtract liabilities like debts, loans, and credit balances. Comparing this number across quarters will show whether you’re moving forward or falling behind.

Next, review your spending habits. Export your bank and credit card statements and categorize your expenses. Are there subscriptions you forgot about? Have certain categories — like dining or shopping — ballooned out of proportion?

Assess your debt status. Are you making progress in reducing principal balances? Check interest rates and explore refinancing or consolidation if applicable.

Then examine your savings and investment contributions. Are you hitting your monthly targets? Are your accounts performing in line with expectations? Rebalancing your investment portfolio may also be necessary, depending on market conditions.

Lastly, revisit your financial goals. Did you achieve the goals set three months ago? Do they still align with your current priorities?

A quarterly audit helps you correct course before small issues become large setbacks. It builds self-awareness, confidence, and momentum — key ingredients for long-term financial success.