By Elizabeth Lazarowitz,New York Daily News

NEW YORK – There’s broccoli, flossing and sit-ups. Now, add one more thing to your list of things unpleasant but good for you: financial checkups.

Particularly for those of us who view shoving unopened bank statements into a shoebox as “filing,” taking time out on a regular basis to take stock of your fiscal situation can give your monetary health a serious boost, experts say.

“The annual checkup would be one in which you’d be comparing your goals against your cash flow and adjusting,” said Jay Sanders, a financial planner in Manhattan. “It keeps everyone focused.”

Tally where it’s going

That means sitting down and figuring out just what you want to do with your money, whether it’s buying a home, buying a car, paying off student loans, saving for retirement, sending your kid to college, buying a new habitat for your pet iguana or all of the above.

Start with the basics, by seeing where you are and where you’d like to be, financially. Determine how much money you’ve accumulated so far, and how much more you need. Then, take a look at how much money you’re making and how much you’re spending.

Knowing where your dollars are going (comic books, daily half-caf no-foam cappucinos, movie popcorn) can help you see if there are ways to cut back (like lowering your food bill by packing your own lunch) so you can apply more money toward, for example, saving for your iguana’s new pad.

Reduce debt

Next, try to get rid of debt that’s like a growing spare tire around your midsection.

“Credit card debt is almost always bad,” said James Kibler, a financial adviser at Eldridge Financial Planning. “At the very least, make sure that the amount of credit card debt you have is less this year than last.”

Invest wisely

Then, take a careful look at any investments that you have, including retirement accounts, mutual funds or stocks. We’re all getting closer to retirement, and depending how far away you are from spending your days on the golf course or knitting, you may need to alter your investments.

“The younger you are, the more aggressive you can afford to be. The older you are, the more you have to pull in the reins and decrease the amount of risk,” said David Frisch of Frisch Financial Group.

Limit what goes to Uncle Sam

A good financial checkup should also include a thorough examination of your taxes. You may be thrilled about the big, fat income tax refund check you got back from the government, but a large payment should set off alarm bells.

That’s money you could have put to work, but instead, “you gave Uncle Sam an interest-free loan,” said Jeffrey Franklin of Life and Wealth Planning. Make adjustments if your employer is withholding too much or too little. “Generally speaking, you’d like to come out even,” he said.

Make sure you’re using every tax advantage you can. Consider raising the amount that you’re contributing to your 401(k) plan since that can help lower your taxable income. If you are a parent, think about a 529 savings plan, which allows your money to grow free from federal taxes.

Find the right insurance

Review your homeowners insurance to make sure that you’re getting all the coverage that you need.

“If someone purchased a home four years ago, it may have doubled in price, you want to make sure it’s insured by an appropriate amount,” said Kibler.

Make sure all your important assets (the arcade game, any valuable comic books) are covered under the policy. Also, if you’re lucky enough to have had a raise, don’t forget to check if your disability insurance coverage is keeping up with your new income.

Take a look at your will, your health care proxy, and your power of attorney. Will your iguana be properly cared for should something happen to you? These documents may not need yearly adjustments, but it’s important to ensure that your estate plan includes any new assets, that your executor is still able to perform the job and that your beneficiaries are who you want them to be.

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