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Every year, you get poked and prodded by your doctor to ensure you鈥檙e in good health. You should take similar care of your financial well-being with an annual checkup of essentials, such as your credit situation, retirement savings and聽.

No needles or latex gloves are involved. You just need to review your finances, perhaps with an advisor.

It鈥檚 not about beating yourself up over what you did wrong, but considering how to set things right, says聽, managing partner at Focused Finances in Oakland, California. 鈥淚f you make small corrections right away, you鈥檙e not going to drive off the cliff.鈥�

Here are the nine key elements of your annual checkup.

1. Make a budget

Consider your likely spending habits and financial goals for the coming year. These questions can help:

• Does your income cover expenses, with enough left over for savings, or do you need to scale back spending?
• Do you need to save up for an anticipated expense, such as home maintenance or a new car?
• Do you want to save for a vacation or other indulgence?

2. Give your emergency fund a once-over

You can鈥檛 just budget for what you expect, notes聽, a partner at Conceptual Financial Advisors in Appleton, Wisconsin. 鈥淵ou鈥檙e always going to have unplanned spending, because things just happen.鈥�

That means keeping money in reserve for emergencies, such as a job loss or surprise medical bill.

Nehring recommends saving enough to cover six months of fixed expenses. 鈥淚 know for a lot of people that鈥檚 a fairly lofty goal, so I鈥檓 thrilled if they can hit 90 days,鈥� he adds.

3. Review your debt

Look at your credit card balances and other loans.

鈥淲hat we want to see is, has the level of debt changed since the last financial checkup?鈥� Nehring says. An increase could be a sign that you need to cut spending.

Check interest rates on any loans, including your mortgage and car loan. You may be able to save by refinancing. You can find聽聽at NerdWallet.

4. Analyze your retirement funds

As soon as you get your first real job, you should start planning for retirement 鈥� and that doesn鈥檛 just mean setting up your 401(k) and maxing out the employer match. Then, and every year after, you need to ensure the amount you鈥檙e saving meets your needs and goals. Advisors often recommend putting away at least 15% of your pre-tax income.

Consider your savings even if you intend to work into your 60s or 70s or beyond, Jennerjohn says. 鈥淵ou should be saving for the future so you have more choice over what you do as time goes by.鈥�

Make sure your retirement portfolio has the right mix of assets. This might mean聽or other parts of your portfolio. As you near retirement, move away from riskier, more aggressive investments, such as growth stocks, toward safer vehicles, such as bonds.

5. Evaluate insurance coverage

As you age, your life insurance needs change. You might need to boost coverage after you buy a house, get a raise or have children. Later, you might need less coverage, or none at all if you鈥檝e paid off your mortgage and your kids have finished college. Check out our tips to determine聽.

[Life insurance quotes are available through NerdWallet鈥檚.]

You should also ensure that your insurance liability limits are still high enough to protect your assets, and that your homeowners policy limit is high enough to replace your home and possessions if they鈥檙e destroyed.

And get new聽. Your provider may no longer be offering you the best deal. If your car is old, consider dropping comprehensive and collision coverage, which may not be worth its cost because it will only pay up to as much as your car is worth.

6. Optimize your taxes

Make sure you鈥檙e taking full advantage of tax deductions and credits for retirement and education savings, dependent care, medical expenses and charitable giving. An extra retirement contribution might mean a big reduction in your tax bill.

If you got a large tax return this year, you might want to reduce your withholding to avoid giving the government an interest-free loan. Conversely, if you owed money, you might need to boost your withholding.

7. Request free credit reports

Federal law requires the three nationwide credit reporting companies 鈥� Equifax, Experian and TransUnion 鈥� to give you a free copy of your credit report every year. Get them at.

Check the information on your credit reports for accuracy, particularly if you鈥檙e planning a big financial move, such as applying for a mortgage. Consider requesting one of the reports every four months or so. If you find errors, notify the credit reporting company and the information provider (such as a credit card company or utility) in writing.

8. Start a college fund

If you have kids, you probably want to save for their college educations. Try tax-advantaged聽. Earnings on 529 savings plans aren鈥檛 taxed if used for qualified expenses such as tuition, fees, books, and room and board. Prepaid tuition programs lock in current costs for public colleges and universities, although you can also use the money at private colleges and public schools in other states.

9. Plan for the end

Marriage, divorce, deaths and changes in financial circumstances can necessitate revisiting your estate plan:

• Does your will account for everything it should and conform to your wishes?
• Have you designated the right people to be executor of your will and to hold power of attorney, in case you become incapacitated?
• Do you need to update the beneficiaries of your retirement plans and life insurance policies?
• Do you need to make changes to trusts you may have created for family members?
• Do your health directives 鈥� such as a living will that spells out medical measures you want taken, or not, in specific situations 鈥� still reflect your desires?

This article first appeared at聽