Weekly Update - Tracking progress

4 min Read ⏰

Track your Finances (Or how I learned to love spreadsheets)

I’ve never been a fan of the phrase “What gets measured gets managed.” It’s overused, sounds preachy, and generally makes me roll my eyes. But when it comes to money? It’s annoyingly accurate. If you’re not tracking your financial progress, you’re basically flying blind—and that’s a quick way to stall your journey to financial freedom (or living to 120, if you’re in that club). Have a goal, create a system to achieve that goal and track your progress along the way.

Why Bother Tracking?

1. Accountability
   The moment you start writing down numbers, you can’t ignore them. It’s a reality check that says, “Yes, I really did blow $/€200 on takeout last month!” Without that slap in the face, it’s too easy to rationalise every expense and wonder where all your money went.

2. Motivation
   Watching your net worth creep upward—even by small increments—can be a huge motivator. It’s like seeing progress in the gym: those little wins keep you going. If you see your savings jump from $/€2,000 to $/€2,200, you’ll be itching to make it $/€2,500 next month.

3. Course Correction
   If your progress stalls, the data will show you exactly where you’re slipping. Maybe your grocery bill doubled, or you forgot to invest last month. Without tracking, it’s guesswork. With tracking, it’s clear as day.

My Simple Spreadsheet Setup

I’m not about fancy tools or paid subscriptions where not necessary. A basic spreadsheet works just fine for me — no advanced formulas required. Here’s how I structure mine:

1. First of all, let’s talk Frequency
   I review and make updates once a month. Weekly feels like overkill, and quarterly can be too long a gap. For me, this is the sweet spot.

2. Section A - Debt
   My first section and the only part of the spreadsheet where I want to see figures go down over time! Put everything in here. For me, it’s mortgage and two loans. My credit cards got cut up a long time ago…

3. Section B - Long term savings
   Anything I don’t plan on touching in the next five years goes here. This is made up of safe, low interest savings accounts that I add either lump sums to or top-up monthly. It’s been growing steadily and should continue to over the next decade.

4. Section C - Investments
   Stocks, index funds, bonds — whatever your preference is. I’m a sucker for the S&P myself. This is where I keep tabs on how my holdings are performing month to month.

5. Section D - Volatile investments
   This one changes a lot. It’s a single figure made up of various tokens, coins and assets. Seeing it’s ups and downs can play with your emotions, but still it is important to keep track and take that reality check right on the chin.

6. Section E - Assets
   These include some rough estimates, as I am not accurately valuing too often. Itemise your property, cars, watches, art, whatever you are into. My only rule is to to be honest with yourself and if unsure, take the lower value.

7. Section F - Net Worth
   The bottom line: assets minus liabilities. The single best snapshot of your overall financial health. Watch it fluctuate, but hopefully go up over time.

This whole process takes maybe 10 minutes a month. Seriously. Ten minutes to see if you’re on track or drifting off course.

Bonus Checklist

Another tab in my spreadsheet includes some of the key milestones along my FI journey. These are the first three goals I set, but you can add any other personal targets you have and tick them off along the way!

• $/€ 1,000 Emergency cash

• Three months of expenses

• Six months of expenses

But Is It Really Worth the Hassle?

Yes—because knowledge is power, especially with money. Once you see the numbers, you can’t unsee them. That awareness alone can drive better decisions. You’ll spot patterns, identify areas to cut back, and maybe even free up extra cash for investing.

Think of it like a health checkup (more on that next week): you might not want to go to the doctor, but if you skip it, you’ll never catch issues early. Same goes for finances. Track them, catch the problems, fix them before they become emergencies.

Final Word

Look, I still hate the cliché “What gets measured gets managed,” but here’s the truth: it works. You don’t need fancy software—just a spreadsheet and a once-a-month reminder. If you’re serious about building wealth, you have to know where you stand. So go on—create your own version of my spreadsheet. Hate the cliché, but do it anyway. Your future self (and maybe your future 120-year-old self) 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.}