Focus Friday - Financial Reality Check

1 min Read / 30 min exercise⏰

If you’re serious about financial independence, you will always need a clear picture of where you stand—not where you think you stand. So, this weekend, let’s do a financial reality check. Open up a spreadsheet (or a notebook, if that’s your style), and put everything in one place. If you’ve read my recent newsletter on tracking your finances, this will be a quick one for you.

Step 1: Your Money at a Glance

Start by listing out:
✅ Total savings – How much do you have across all accounts? What’s the interest rate?
✅ All debts – List every loan, credit card, or balance you owe. Include the interest rate and payoff date.
✅ Mortgage details – What’s the remaining balance, interest rate, and end date?
✅ Crypto / Investment portfolio – Note today’s value, plus what it was 6 months and 12 months ago. Also, are you up or down overall?
✅ Exit plan? – If you have crypto / investments and have been dollar-cost averaging (DCA) in, how will you DCA out? Do you have a plan to take profits?

Step 2: Your Monthly Flow

Now, take a look at your everyday spending:
💰 Net income – What’s left after tax?
📌 Fixed monthly expenses – Fuel, food, bills, subscriptions, rent/mortgage, childcare, etc.
⚠️ Reality check moment: Are there expenses here you didn’t even realise you were paying for? Is the level of ad-hoc spending higher than you thought? Maybe you have room to overpay your mortgage and reduce that principal more aggressively?

This isn’t a deep-dive budgeting exercise—it’s a wake-up call. You will always uncover a few surprises, and that’s the point. Get clear on what’s working, what isn’t, and where you need to make changes. Do this with your partner and it acts as a great way to keep on track.

Take 30 minutes this weekend and give it a shot. You might not like what you see, but trust me—future you will thank you.

^{NOTE: I am not a financial advisor, planner or have any formal healthcare education. &Prosper is simply a way for me to share my own journey and offer resources I have found useful. With this, I am starting from near zero and I hope to show that anyone can significantly improve their health and financial wellbeing.}