Making Sense of Your Money
Financial education isn't about complex formulas—it's about building confidence with your own numbers.
When I started tracking my net worth back in 2018, I was completely lost. Spreadsheets confused me. Financial jargon felt like a foreign language. But once I figured out the basics—what counts as an asset, how to think about debt differently—everything clicked. These tips come from that journey, along with what I've learned helping people in Dubbo understand their financial position better.
01 — START SIMPLE
Your First Snapshot
Don't worry about tracking every cent on day one. List your three biggest assets (probably your home, super, and car) and your three biggest debts (mortgage, credit cards, personal loans). That simple list gives you 80% of the picture. You can add detail later—maybe in March 2025 when you've got the rhythm down.
02 — MONTHLY CHECKS
The Calendar Trick
Set a recurring reminder for the last Sunday of each month. Spend 15 minutes updating your numbers. That consistency matters more than precision. I've seen people who check daily get burnt out, while monthly trackers stick with it for years. Your super balance doesn't change much week-to-week anyway.
03 — MARKET SWINGS
When Numbers Drop
Property values fluctuate. Share portfolios go up and down. That's normal market behaviour, not a reflection on your financial management. I remember February 2023 when property values dipped across regional NSW—plenty of people panicked. But tracking long-term trends (12+ months) gives you the real story, not monthly wobbles.
Learning From Real Experience
Thalia Pembroke
Financial Education Coordinator
What Actually Helps People Understand Their Finances
After running workshops in western NSW since 2019, I've noticed the same pattern. People get stuck on valuation—they want exact numbers for everything. But here's the thing: your primary residence value being $425,000 versus $432,000 doesn't really change your financial decisions this week.
The breakthrough moment usually comes when someone sees their net worth trend over six months. Even if the number itself isn't where they hoped, watching it move in the right direction—that's motivating. One participant in our autumn 2024 program reduced credit card debt by $8,400 just by tracking it monthly. She didn't follow some complex strategy. She just couldn't ignore the number anymore.
I always tell people: start tracking before you try changing anything. You need baseline data. Otherwise you're making financial decisions based on feelings and vague memories. Three months of consistent tracking teaches you more than any article or course ever could.
Common Situations We See
Real questions from people tracking their finances in regional Australia
Inheritance and Sudden Changes
When you receive an inheritance or windfall, your net worth jumps overnight. That's great, but it can mask your actual financial habits. Keep tracking your regular income and spending separately. The inheritance is a one-time event—your monthly patterns tell the ongoing story.
Investment Property Calculations
List the property value as an asset and the full mortgage as a liability. Don't try calculating equity or net property value in your head. Let the total net worth figure do that maths for you. And remember—rental income shows up in your cash flow tracking, not your net worth snapshot.
Business Owners and Complexity
If you own a business, track your personal finances separately from business accounts. Your net worth includes your ownership stake in the business (valued conservatively), but mixing daily business transactions with personal tracking creates confusion. Keep them distinct, even if the business is just you.
Should You Include Your Car?
Yes, but only if it's paid off or you're tracking the loan. A $30,000 car with a $25,000 loan adds $30k to assets and $25k to liabilities. Your net contribution is $5k. If the car's worth less than $5,000, honestly you can skip it—it won't materially change your overall picture.
Building Your Financial Awareness Practice
We're running a structured eight-week program starting September 2025 for people in the central west who want guidance as they build their tracking habit. Not a course with tests and certificates—just structured support while you develop the practice.
- Weekly check-ins to discuss what's working and what feels confusing
- Small group format (maximum 12 participants) for genuine discussion
- Access to Thalia and other financial educators for specific questions
- Practical worksheets that suit Australian tax and super structures
- Optional ongoing monthly meetups after the initial eight weeks