Crown Money Management

Here is a simple checklist for you to go through and see how many boxes you can tick to see how financially fit you’ve become. Most Australians are only able to tick on average 4 out of the 11 boxes…


⬜ Not spending more than you’re earning
You have a level of income banked into your home loan each month that is higher than your level of expenses. Your debt is reducing and you make sure that you have enough money to cover your expenses each month. You can comfortably pay your bills without relying on credit cards, and you have a buffer/redraw building for future needs.

⬜ Conscious spending
You consider your larger purchases carefully, avoiding impulse buys that could derail your financial plan. You’re mindful of sales, deals, and emotional triggers and stick to your weekly spending amount.

⬜ Saving for retirement
You prioritize saving for retirement, understanding that the earlier you start, the more time your money has to grow. You’re taking advantage of your employer’s super contributions AND you are contributing extra by salary sacrificing into your super fund.

⬜ Manageable debt
You keep your home loan debt under control, making steady progress towards paying off the loan in under 15 years, and you’re not accumulating more bad debt (credit cards, car loans, personal loans).

⬜ Emergency fund in place
You have built a financial safety net (redraw) for unexpected expenses, such as medical emergencies or job loss. This gives you peace of mind and helps you avoid further debt or financial instability.

⬜ Clear understanding of expenses
You have a clear understanding of where your money goes each month. You track your weekly spending and one-off redraws, which helps you to make informed decisions about your finances.

⬜ Set financial goals
You have set clear financial goals for the short and long term. You know what your Debt Free Date is. You have a plan for achieving your goals, and you’re making steady progress toward them. You have a sense of purpose and direction when it comes to your finances.

⬜ Prioritize essentials over non-essentials
You prioritize spending on essentials like Food, Fuel, and Fun. You avoid overspending on discretionary expenses. This creates a surplus in your cash flow for paying down debt and future investments.

⬜ Good credit score
Your credit score is healthy because you pay all your bills on time and avoid taking on excessive bad debt such as Afterpay, credit cards, car loans, and personal loans.

⬜ Willingness to discuss finances
You’re open to discussing money matters, even with family members. You’re willing to seek help or advice when you need it, and you recognize the value of financial progress.

⬜ Adequate insurance coverage
You have adequate insurance coverage for potential risks, such as health, life, or property. This protects you from significant financial setbacks in the event of unforeseen events. You see the value in Life insurance and income protection and prioritize it in your financial plan.

  • If you can tick 10+ boxes you’re a financial wizard…
  • 8-9 boxes and you’re in great financial shape…
  • 6-7 boxes and you’re going well and getting much more financially fit…
  • 5-6 boxes and you have some foundation but lots of room to improve…
  • 4 boxes or less …. we need to talk! 🙂 Let us help you implement some strategies to get back on track.