Calculating Your Personal Profits and Losses

Let's get this chapter off to a strong start by looking at you as not just one person but as a serious, complex financial operation. As such, you need to periodically assess your financial health. The standard measurement of financial health for a business is the profit and loss statement (P&L). This is a simple calculation of how much money the company made, minus expenses, which shows what the net profit or loss was for a given time period (for example, one fiscal year).

You'll need list

  • Your income and expense tracking document from Chapter 1

  • Your bill-paying system, medical bill tracking document, and “Did I Pay That?” record from Chapter 3

  • The files you created in Chapters 5 and 6

  • Any other information ...

Get Organize Your Personal Finances ...In No Time now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial