The most common financial goals are to save more or to get out of debt. Both of these goals depend on having a good budget and net worth statement. You can’t save more or put more money toward your debts until you know where your money is going now and what your debts are. It might be scary and even a bit depressing, but you have to do it.

Once you know what you own and what you owe and how you spend what you earn, you can start identifying the steps you need to take. Maybe you need to eliminate certain expenses or cut other things. You can cancel subscriptions that you no longer need or you can reduce your food expenses by carrying lunch to work instead of eating out. Some changes may be more challenging. You may need to find a cheaper place to live or to get a roommate. You might need to look for a better job or a second job. But even bigger tasks can be done in smaller chunks.

One handy way to make sure that you save more is to decide what you can save each month (based on your budget) and have that amount automatically transferred into a savings account on a specified day each month. I have a specific sum transferred every payday. In addition, once each month I have another amount transferred to my house account. It’s moved before I can start thinking of it as money I have available to spend.

Other financial goals you might want to consider: Are your savings for retirement or your children’s college on track? Are your retirement funds and other savings properly invested? Is the balance and risk profile right for a person of your age? Do you have a will? Is it up to date? Do you have beneficiaries on your bank and investment accounts? Are your tax withdrawals too low or too high? Do you have a designated place to keep your tax and other financial files?