Joshua Fraser reviews his personal finances every week using a custom scorecard that tracks income, expenses, and net worth across his businesses and rental properties. He reverse-engineers annual goals into monthly targets, constantly checking if he's on trajectory. The same framework applies to his companies, with one core rule: never lose money.
Chapters
I actually have created a scorecard for myself personally on my finances and businesses and real estate that I own. So you can see here. This is my personal P and L every single month. I do it on a monthly basis. I don't need to do it on a weekly basis, but I go through every single line item of my expenses to see where I'm spending my money. I also am tracking my net worth and my own personal balance sheet in it. I use this for so many different things in my life and having a scorecard just allows me to keep the pulse on everything. I get to set what I want to achieve every single year and then I can just reverse engineer it, work backwards for what I need to get to every single month. Am I high? Am I low? Did I spend too much? Did I spend a little less? Can I save more money? Can I buy more crypto? What can I do with it? And so I use this not only for my personal balance sheet. I use it for the data. Nerds, businesses, US realty records. I use it for my rental properties because I don't ever want to go broke. The number one rule from Warren Buffett, don't lose your money. What's the second rule? Read the first rule again.