By Tokiso TKay Nthebe
Six months ago, you set bold financial goals — maybe you promised to save more, pay off debt, or finally start investing. But here’s the real question: are you still on track?
Or have you been winging it, hoping things will somehow fall into place while your budget spreadsheet gathers digital dust?
It’s time to pause and do something powerful — a financial health check.
No guilt. No shame. Just an honest look at where you are, where you’re headed, and how to realign your financial habits with your dreams.
Whether you’re a freelancer juggling invoices, a 9-to-5 professional navigating adulting, or a business owner building your empire, this moment is for you. Your financial wellness deserves your attention.
What’s a Financial Health Check Anyway?
Think of it like an annual medical check-up — but for your wallet.
A financial health check is a structured look at your income, expenses, assets, and liabilities to help you understand if your money habits align with the life you want to create.
It’s a key part of financial planning and money management, helping you to:
✅ Spot money leaks before they spiral
✅ Understand your true financial position
✅ Track progress toward your goals
✅ Make smarter, data-driven money decisions
1. Income: What’s Coming In?
Your income is the fuel that powers your lifestyle — from your salary and freelance gigs to rent from property, dividends, or digital product sales.
Check-in question:
Is your income enough to cover your lifestyle and support your growth goals?
If not, it might be time to diversify your income streams or adjust your expenses. Remember, financial freedom starts when your income outpaces your obligations.
2. Expenses: What’s Flowing Out?
Your expenses are every rand, dollar, or shilling that leaves your account — groceries, subscriptions, rent, fuel, or even that daily coffee run.
Pro tip: Divide expenses into two buckets:
- Fixed expenses (rent, insurance, loan repayments)
- Variable expenses (entertainment, dining out, shopping)
Golden rule: Spend less than you earn. The key isn’t just earning more — it’s managing money well.
3. Assets: What Do You Own?
Your assets are the foundation of your wealth-building journey. They include property, stocks, savings, equipment, or even intellectual property like digital content that earns you income.
Goal: Add at least one income-generating or value-appreciating asset each year.
This is how financial independence is built — through intentional wealth creation, not wishful thinking.
4. Liabilities: What Do You Owe?
Your liabilities are your debts — credit cards, student loans, personal loans, or car payments.
Money adventure tip:
Debt isn’t always bad, but too much of it creates financial stress.
Each year, ask yourself:
Am I reducing or increasing my debt?
A lower debt-to-income ratio means greater financial freedom and peace of mind.
How to Start Your Financial Health Check
Not sure where to start? Here’s a quick snapshot to guide you:
| Category | Examples | What to Track | Goal |
|---|---|---|---|
| Income | Salary, side hustle, rental income | Monthly inflows | Increase or diversify annually |
| Expenses | Rent, groceries, subscriptions | Fixed vs variable | Reduce waste and automate savings |
| Assets | Property, stocks, business tools | Market value | Add at least one new asset yearly |
| Liabilities | Loans, credit cards, store accounts | Outstanding balances | Reduce quarterly |
Schedule this review quarterly or at least twice a year. The goal isn’t perfection — it’s progress and awareness.
This Is Your Money Adventure
At TKO Financial Wellness, we believe financial planning isn’t just about numbers. It’s about freedom, peace of mind, and designing a life that feels good to live.
Your financial health check is a mirror — showing you where you stand and empowering you to take the next step.
So, ask yourself today:
- Am I living intentionally with my money?
- Are my financial choices aligned with my values and goals?
Whatever your answer, remember — this is a journey. Real financial wellness is built over time, through consistent, informed action.
Take the Next Step
Join our growing community of TKO Money Trailblazers who are rewriting the story of financial literacy across Africa and beyond.
✔️ Explore practical guides, tools, and inspiring stories at www.mymoneyadventures.com
✔️ Follow TKO Money Adventures Academy for expert tips and relatable financial education.
✔️ Let’s grow together — one smart money move at a time.
About the Author
Tokiso “TKay” Nthebe is an author, podcast host, and financial coach. As Lead Advisor at TKO Financial Wellness & Advisory, she helps professionals and entrepreneurs across Africa build financial confidence, stability, and long-term wealth.
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