Build Your Financial Snapshot
Document your income, expenses, debts, assets, accounts, and current net worth to establish a clear financial starting point.
What Build Your Financial Snapshot gets you.
By the end of this upgrade, you will have a single document capturing your income, expenses, debts, assets, and accounts as a clear financial starting point.
- Recent pay stubs
- Last 1-2 months of bank and card statements
- List of all debts with balances and rates
- List of all accounts and estimated asset values
Run the upgrade.
- 01
Record your income
Write down all sources of income and their monthly take-home amounts.
- 02
Record your monthly expenses
Summarize fixed and variable expenses from recent statements into monthly totals.
- 03
Record every debt
List each debt with lender, balance, interest rate, and minimum payment.
- 04
Record every asset and account
List bank, investment, retirement accounts, and major property with current balances or estimated values.
- 05
Calculate your current net worth
Subtract total debts from total assets to establish a baseline figure.
Net worth = total assets - total debts
- 06
Compile everything into one document
Combine income, expenses, debts, assets, and net worth into a single spreadsheet or page you can reference and update.
- Income, expenses, debts, and assets are each fully listed
- A current net worth figure has been calculated
- Everything is compiled into one reference document
- The document includes a date so future updates can be compared
Quarterly
- Update balances and figures
- Compare against the previous snapshot to see progress
- Use it as the input for budgeting or net worth tracking