Age 26
Income Statement (After Tax)
Amount
Income from Employme $61,000
Income from Investmen $0
Other Income $3,000
Expenses $52,000
Net $12,000
Percent 19.67%
Financial Assets
Amount Rate of ChangExpected Annual Gain (Lo
Cash (Physical) $150 0.00% $0
Chequing Account $2,000 2.25% $45
Emergency Fund $5,000 2.25% $113
Savings Account $0 0.00% $0
GIC's $0 0.00% $0
Bonds $0 0.00% $0
Stocks $1,000 7.00% $70
Crypto $500 15.00% $75
Gold $0 3.00% $0
Other $0 0.00% $0
Net Financial Assets $8,650 $303
Physical Assets
Amount Rate of ChangExpected Annual Gain (Lo
Vehicle $15,000 -15%
Property (Excl. Mortgag $0 5% $0
Equipment $4,000 -15%
Electronics $1,000 -15%
Other Valuables $0 0% $0
Net Physical Assets $20,000 $0
Net Total Assets $28,650 $303
Liabilities
Amount Rate of ChangExpected Annual Gain (Lo
Credit Card $500 21.00% -$105
Line of Credit $0 0.00% $0
Student Loan 1 $10,000 4.50% -$450
Student Loan 2 $2,000 5.50% -$110
Mortgage $0 0.00% $0
Car Loan $0 0.00% $0
Personal Loan $0 0.00% $0
Medical Debt $0 0.00% $0
Other 1 $0 0.00% $0
Other 2 $0 0.00% $0
Other 3 $0 0.00% $0
Net Liabilities -$12,500 -$665
Housing
Amount
Home Owner? No
Rent (if not a home own $2,000
Net Position $16,150
Net Change in Net Wo $11,638
Planned Duration of Investment
1-5 years
Annual Depreciation
-$2,250
-$600
-$150
-$3,000
-$3,000
Monthly Payment
$0
$0
$250
$50
$0
$0
$0
$0
$0
$0
$0
$300
Priorities
Level 1
Your income is #NAME?
Level 2
You have high interest debt.
Level 3
You have an emergency fund.
But it is not complete.
Level 4
You are investing.
currently
Level 5
You have low interest debt.
Priorities
#NAME?
Paying this down will be your next financial priority to tackle. High interest debt poses a
major problem to financial progression because the interest owed can be very expensive
and snowball into large amounts quickly. It is one of the main things that can completely
undermine your financial journey. For more information on your debt, see the debt section
below. Return to the table and update it once the debt is paid off so you can progress to
the next level.
It's great that you've started building your emergency fund, but in order for it to truly fulfill
it's purpose it should be worth 3-6 months of your living expenses. Growing your
emergency fund to this size will be your next financial priority.
That's great! As long as you have passed the first three levels, you are in an excellent
position to be investing your money. If you have not passed the first three levels, it would
be smart to circle back and see what work needs to be done before beginning to put your
money at risk with the goal of a future reward. For more insights into your investments,
see the investing section below.
If you've passed the first four levels, congrats! You've arrived at the final stage, where we
can turn our attention away from buiilding a solid financial foundation and focus more on
maintenance. Low interest debt generally poses little problems as the interest rate is too
low to cause any major headwinds. At this point, a reasonable path forwards could be to
dedicate some portion of your monthly savings to investments and some portion towards
paying down this debt. But, the porportion greatly depends on the type of debt you have
and the interest rate associated with it. For more information, see the debt section below.
Financial Pos
Age
You are
Liquid Assets to Debt
Your liquid assets are
Housing Costs
Your housing costs are
Housing Situation
You
Financial Position
#NAME?
#NAME?
#NAME?
do not own your home.
al Position
#NAME?
#NAME?
#NAME?
This means you are either renting or you are living with someone else
Debt
Savings vs. Credit Card
It would take you #NAME?
Income vs. Credit Card
Your credit card debt is #NAME?
Debt Service vs. Income
You are spending #NAME?
Car Loan
You are spending #NAME?
Debt
#NAME?
#NAME?
#NAME?
#NAME?
Investin
Stocks vs. Emergency Fund
You have investments in stocks.
but your emergency fund is incomplete.
Stocks vs. High Interest Debt
You have investments in stocks.
high interest debt.
Stock Investment Duration
You have investments in stocks.
And you're planning to invest for 1-5 years
Crypto Investing
You have investments in crypto.
Crypto as a Percentage of Wealth
Crypto represents #NAME?
Investing
It looks like you may have jumped the gun on investing your money in stocks right now. As
In general, this is not a good idea. When trying to determine whether its better to invest
In general, this is not a good idea. Since investing in the stock market poses risk to your
this asset class, that we do so responsibly with regard to our full financial picture.
#NAME
