What is my Money Position?

Key Points

  • Your money position is a point in time view of your money situation (what you earn less how much you spend)
  • You should know if you are saving or spending more than you earn
  • Your net asset position helps you to understand what you are worth (financially)

It consists of two main things:

Net Monthly Income – your monthly income (less tax) less your expenses using monthly averages.


Net Asset Position – the value of what you own (your assets) less what you owe (your liabilities)

What is considered income?
When considering your monthly income you should include any salary (average salary if your income is variable), any Centrelink payments, interest, dividends or other investment

What is considered an expense?
You expenses should include housing, food, clothing, utilities, entertainment, transportation, healthcare, travel, interest on debts, insurance. Try to collate all expenses over a year and then divide by 12 to obtain a monthly average.

What are examples of assets?
Cash in the bank, value of any investments such as shares, value of your home or any property, car. You should also include your superannuation however remembering this cannot be accessed until you retire. Generally other valuables should not be included unless there is a ready market for the item

What are examples of liabilities?
Any borrow or loans that you have, this would include credit cards, personal loans, car loans, home mortgage, study loan (HECS). You should also include any money that has been borrowed from family or friends if there is the expectation that this is to be repaid.