Creating budgets and savings money aren't usually things we like to talk about, but checking in on our financial health every once in a while could mean the difference between reaching our financial goals and being unaware of what our financial goals even are.

Before you start budgeting, set some financial goals.
These could be short-term goals like a weekend vacation, a new pair of shoes or a new car. Also look at the long term goals, such as owning your own home, being debt free, or diving into property investment.

Set a time frame in which you want to achieve these goals and design your budget accordingly. Having clear, achievable goals will keep you on track to financial freedom and help you  live your ideal lifestyle.

A budget is a great way to keep track of all your expenses and income. Use this on a weekly, fortnightly or monthly basis to monitor your cash flow. It is important to consider things like registration, insurances which may not be due on a regular basis.

The next area to consider in your financial health is your mortgage and personal loans. Are these still working in your favour? Could you be getting a better deal?

You should seek professional advice when it comes to evaluating your loans, as there might be a hidden terms and conditions that could limit what you can and can't do. This could include being locked into your loan for a certain period of time, break costs or switching fees if you choose to switch your loan.