A Financial Snapshot is a fancy way to say a summary of your financial picture. In my emails, I have been saying that our tendency is to assume that everything is fine and go on autopilot when it comes to money. We can’t assume everything is fine. We gotta know for a fact where we stand.

That’s why you need to spend a little time digging deep into your finances at least once a year so you know what your financial picture looks like – no guessing!

Why the Snapshot is important:

  • It allows you to take the guesswork out of how healthy you are financially and allows you to make better, more educated decisions.
  • It shows you where you may need to focus your financial goals and any necessary changes that need to be made.
  • We make better decisions when we have accurate information.

Here’s what to include in your Snapshot:

Income Streams:

  • How much you are paid.
  • How often you are paid.
  • How variable it may be.

Repeat this for all of your income streams.


    • Liquid assets (cash savings, sinking funds, and checking accounts).
    • Retirement accounts, their current balances, and how much you regularly contribute.
    • Brokerage accounts, their current balances, and how much you regularly contribute.
    • The current value of your home, boat, car, and any other assets you may have.


List all of your debts (including the mortgage).


    • Total balance due
    • Due date
    • Minimum payment
    • Interest rate
    • Any promotional period end dates


List out all of your expenses that are:

  • Monthly
  • Quarterly
  • Semi-Annual
  • Annual

If you are not in tune with your spending, start by looking at the last 30 days’ bank statements from the accounts you spend money from regularly.

I know it’s a lot of work but…

Okay, I know that’s a lot! It’s worth the effort. How many times have we forgotten to pay our Amazon Prime Membership annual dues this month? You can forget so many other things that it is absurd to do. This happens to everyone, so it is important to be proactive and smart about managing your money. To get to know our finances, we must take the time to spend time with them. Spending time with your finances is a great way to establish a friendship with another person. Yes! You must invest time in getting to know your overall financial picture.

Depending on how you like to work best, I recommend using a software program like Personal Capital (which I personally use – there’s a free and paid version) and linking up all of your accounts to one place to make it easier! You can also write everything down in a notebook. You can use pen and paper, but it’s fine!

I would also like to thank everyone who has contributed to the Hurricane Ian Debt Relief fundraising! We are now at 18% of the goal to forgive $500,000 in medical debt for families affected by Hurricane Ian. This is close to our goal of allowing us to forgive $100,000 in medical debt! Thank you

P.S. Our bank used for emergency fund has raised their APY! It now stands at 3.00% This is more money for you to keep your money with them. Check them out. The minimum opening deposit is $100, so if you haven’t yet started your Starter Emergency Fund but have the $100, set up an account and start earning more for your money!


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