By Tokiso TKay Nthebe
Six months ago, you set those bold money goals. Now the question is: Are you still on track?
Or have you been winging it, hoping for the best while quietly ignoring your budget spreadsheet?
Let’s press pause and do something powerful together — a financial health check. This isn’t about shame or guilt. It’s about realigning with your values, goals, and dreams. Whether you’re a freelancer juggling invoices, a 9-to-5 pro navigating adulting, or a business owner building an empire, your financial wellness matters.
What’s a Financial Health Check Anyway?
Think of a financial health check like your annual medical check-up — but for your wallet. It’s a quick (but powerful) scan of your income, expenses, assets, and liabilities to see if your current money habits support the life you want.
This exercise is a key part of money management and financial planning, helping you:
- Spot money leaks
- Understand your financial position
- Track progress toward your goals
- Make smarter money moves
So, grab a warm drink (winter is a great time to reflect), open your notes app or planner, and let’s dive in.
1. Income: What’s Coming In?
Your income is the money flowing into your life — salary, side hustle earnings, commissions, rent from property, interest, or even digital product sales.
Check-in question: Is your income enough to cover your lifestyle and help you grow financially?
If you’re always coming up short, it might be time to increase your income streams or adjust your expenses.
2. Expenses: What’s Flowing Out?
Everything you spend money on — from groceries and rent to streaming services and data bundles — falls under expenses.
Pro tip: Split expenses into fixed (like rent or loan payments) and variable (like takeout or shopping).
Rule of thumb: Spend less than you earn. The magic is in mastering money management, not just making more.
3. Assets: What Do You Own?
Assets are the things you own that add value to your life or can generate income — think land, property, stocks, or even equipment for your business.
Goal: Add at least one income-generating or value-appreciating asset to your portfolio every year. That’s how wealth is built — intentionally.
4. Liabilities: What Do You Owe?
Liabilities include credit card debt, student loans, personal loans, car loans, or that store account you’re still paying off.
Money adventure tip: Keep your liabilities in check. Too much debt = financial stress. Each year, ask: Am I reducing or increasing my debt?
How to Start Your Own Financial Health Check
Not sure where to begin?
Here’s a simple template to get started:
| Category | Item | Amount | Notes |
| Income | Monthly salary | R | Track frequency, patterns |
| Expenses | Rent, groceries | R | Track fixed vs. variable |
| Assets | Investments, equipment | R | Add one new asset annually |
| Liabilities | Credit card, personal loan, car loan | R | Aim to reduce every quarter |
Schedule this review quarterly or at least twice a year. Better money habits start with awareness.
This Is Your Money Adventure
At TKO Financial Wellness, we believe that building wealth starts with knowing your numbers. This is not just about budgets and spreadsheets — it’s about freedom, peace of mind, and creating a life you love.
So, what does your financial health check reveal today?
Take a moment to reflect, adjust your plan, and keep going. Remember, personal financial planning isn’t a one-time thing — it’s an ongoing money adventure.
Want more?
Join the Money Trailblazers’ community for practical tools, real stories, and expert tips to help you manage your money with confidence. Let’s grow together, one smart money move at a time.
🔎 Visit TKO Money Adventures Academy for more relatable and practical content to help you stay financially informed and empowered.
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