Free Resource: Understanding your financial position

This exercise is designed to help you to list your personal assets and liabilities, and determine your financial position. This resource is taken from our personal coaching resource, Time To Change.


You can find the relevant template for this exercise here, either in PDF or Excel format.

The following resources from the course are available here:

PDF Worksheet

Excel Worksheet

Audio description of assets and liabilities

Audio Transcript

In this exercise, either by yourself or with a partner, complete the assets & liabilities register, and calculate your financial position. If you prefer and are capable, you could use the attached template and create a spreadsheet instead to calculate it for you. The PDF version of this template will need to be printed off, the Excel version can be completed digitally.

Be sure to include any credit card or similar debt.

Once you have completed the exercise, spend a few moments looking over the figures.

Do the results surprise you, or are they in line with what you expected? Are you in a better or worse financial position than you thought, or had you never thought about it in this way before?

A short word about debt: it is not necessarily a bad thing to be ‘in debt’ as it commonly called. Good debts are often secured against particular assets (e.g. mortgage for a house, car loan for a new car). Bad debts are those which are both unsecured and for which the person owing the money does not have the ability to pay or is unlikely to be able to pay. If you cannot pay your debts when they are due, you are at risk of being insolvent.

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