Fact checked by Vikki Velasquez A money audit helps you understand your income, spending, debt, and savings. andresr/ Getty Images Key Takeaways A money audit helps you understand your income, spending, debt, and savings. Reviewing last year’s numbers can highlight patterns and areas for improvement. Using the SMART framework helps you set realistic, achievable money goals. Adjust one budget category at a time to keep changes easier to manage. Set up monthly check-ins to keep your financial habit ...