Understanding where you stand financially is the first and most important step in the wealth building journey. This assessment creates a baseline you can measure progress against and helps prioritize where to focus effort.

Assets🔗

Inventory everything you own that has value. This includes cash, savings, investments (stocks, bonds, ETFs), retirement accounts, real estate, and other valuables.

• Record current balances and ownership (individual vs joint).
• Note account types and any tax implications (taxable vs tax-advantaged).

Liabilities🔗

List all debts: mortgages, student loans, car loans, credit card balances, and other obligations.

• Capture interest rates and minimum payments.
• Prioritize high-interest debts for early payoff.

Cash Flow🔗

Analyze monthly income sources and fixed/variable expenses to determine your savings rate—the portion of income you can deploy toward investments or debt reduction.

• Track recurring subscriptions and discretionary spending to find quick wins.
• Set a target savings rate (many aim for 15-20%+ depending on goals).

Tools & Next Steps🔗

Create a net worth statement (assets minus liabilities) and a simple monthly budget. Use these to set realistic targets and measure progress.

Finster’s Role: Provide your financial snapshot to Finster for instant net worth calculation and actionable suggestions for reallocating cash flow toward prioritized goals.