Identify all assets including cash, investments, and tangible assets
In this task, you will identify all of your assets including cash, investments, and tangible assets. This will give you a complete picture of your financial worth. Start by listing down all the assets you own, such as the amount of cash in your bank account, the value of your investments, and any other tangible assets like real estate or vehicles.
Calculate the total value of all assets
Now that you have identified all of your assets, it's time to calculate the total value. Add up the values of each asset to get the total value of your assets. This will give you an idea of your overall financial worth.
Identify all liabilities including loans and credit card balances
In this task, you will identify all of your liabilities including loans and credit card balances. This will help you understand your financial obligations and give you a clear picture of what you owe. List down all of your liabilities, such as the outstanding balances on loans and credit cards.
Calculate the total amount of all liabilities
Now that you have identified all of your liabilities, it's time to calculate the total amount. Add up the amounts of each liability to get the total amount of your liabilities. This will give you an idea of your overall financial obligations.
Approval: Accountant review of assets and liabilities

Identify all assets including cash, investments, and tangible assets
Will be submitted

Calculate the total value of all assets
Will be submitted

Identify all liabilities including loans and credit card balances
Will be submitted

Calculate the total amount of all liabilities
Will be submitted
Subtract the total liabilities from total assets to determine net worth
In this task, you will subtract the total amount of liabilities from the total value of assets to determine your net worth. This will give you an understanding of your financial standing. Subtract the total amount of liabilities from the total value of assets and enter the result below.
Identify income streams
In this task, you will identify all of your income streams. This will help you understand where your money is coming from. List down all of your income streams, such as salary, rental income, or dividends from investments.
Calculate total monthly income
Now that you have identified all of your income streams, it's time to calculate the total monthly income. Add up the amounts of each income stream to get the total monthly income. This will give you an idea of how much money you have coming in each month.
Identify all monthly expenses
In this task, you will identify all of your monthly expenses. This will help you understand where your money is going each month. List down all of your monthly expenses, such as rent, utilities, groceries, and other bills.
Calculate total monthly expenses
Now that you have identified all of your monthly expenses, it's time to calculate the total monthly expenses. Add up the amounts of each expense to get the total monthly expenses. This will give you an idea of how much money you are spending each month.
Approval: Financial Advisor review of income and expenses

Identify income streams
Will be submitted

Calculate total monthly income
Will be submitted

Identify all monthly expenses
Will be submitted

Calculate total monthly expenses
Will be submitted
Subtract total monthly expenses from total monthly income to determine net monthly income
In this task, you will subtract the total monthly expenses from the total monthly income to determine your net monthly income. This will give you an understanding of how much money you have remaining each month after covering your expenses. Subtract the total monthly expenses from the total monthly income and enter the result below.
Identify annual expenses and divide by 12 to estimate monthly cost
In this task, you will identify all of your annual expenses and divide them by 12 to estimate the monthly cost. This will help you budget for these expenses throughout the year. List down all of your annual expenses, such as insurance premiums, property taxes, or subscriptions, and divide the total by 12 to get the estimated monthly cost.
Subtract estimate of monthly cost of annual expenses from net monthly income
Now that you have estimated the monthly cost of your annual expenses, subtract this amount from your net monthly income. This will help you understand how much money you have left after accounting for both regular and irregular expenses. Subtract the estimate of monthly cost of annual expenses from the net monthly income and enter the result below.
Calculate the percentage of income spent on different expense categories
In this task, you will calculate the percentage of your income that is spent on different expense categories. This will help you identify areas where you may be overspending and where you can potentially cut back. For each expense category, enter the amount spent on that category and the total monthly income. The percentage will be calculated automatically.
Approval: Client Review of Financial Status

Identify annual expenses and divide by 12 to estimate monthly cost
Will be submitted

Subtract estimate of monthly cost of annual expenses from net monthly income
Will be submitted
Set financial goals
In this task, you will set your financial goals. Think about what you want to achieve financially, whether it's saving for a down payment on a house, paying off debt, or building an emergency fund. Write down your financial goals and be as specific as possible.
Identify actions to align financial status with goals
Now that you have set your financial goals, it's time to identify the actions you need to take to align your financial status with your goals. Think about what steps you can take to achieve your goals, whether it's cutting back on expenses, increasing your income, or investing your money. List down the actions you need to take.
Approval: Goal Setting

Calculate the percentage of income spent on different expense categories
Will be submitted
Implement actions and track progress
In this task, you will implement the actions you identified in the previous task and track your progress towards your financial goals. Take the necessary steps to align your financial status with your goals, whether it's reducing your expenses, increasing your savings, or monitoring your investments. Keep track of your progress regularly and update this task as you make progress.
Approval: Progress Tracking

Set financial goals
Will be submitted

Identify actions to align financial status with goals
Will be submitted

Implement actions and track progress
Will be submitted