Quick Wins

Seven practical exercises you can do in your first week with Doughsense. Each one takes a few minutes and gives you a clearer picture of your finances.

Day 1: Calculate Your Real Net Worth (3 minutes)

The Win: See your complete financial picture in one place.

How:

1. Add all accounts (current, savings, investments)
2. Add debts (student loans, credit cards)
3. Include assets if you own them (car, property)

Result: Your true net worth, calculated automatically. Many people find they're in a better position than they expected.

Day 2: Set Your Retirement Target (5 minutes)

The Win: See when your retirement savings are on track.

How:

1. Add your retirement accounts with current balances
2. Set a retirement milestone (e.g., 25x your annual expenses)
3. Check the timeline to see when you'll reach your target

Result: A projected date for hitting your retirement goal, and a sense of whether your current contributions are enough.

Day 3: Track an Additional Income Stream (10 minutes)

The Win: See whether additional income sources are worth the effort.

How:

1. Add any secondary income as a separate income stream
2. Track associated expenses (tools, subscriptions, costs)
3. Compare the net return to the time you invest

Result: A clear picture of which income streams deserve your energy.

Day 4: Set Up Multi-Currency Tracking (5 minutes)

The Win: One dashboard for finances across currencies.

How:

1. Go to Settings and add your additional currencies
2. Add accounts in different currencies (e.g., a EUR savings account, a USD investment account)
3. Set your primary currency for reporting
4. Check your Dashboard to see everything converted automatically

Result: All your finances visible together, regardless of currency. Doughsense converts at current rates, so your net worth always reflects the latest exchange rates.

Day 5: Model a Major Life Change (10 minutes)

The Win: See how a big decision would affect your finances over time.

How:

1. Adjust your income to reflect the change (e.g., a career break, a new job, reduced hours)
2. Add or remove expenses to match the scenario
3. Check the timeline to see the long-term impact

Result: Concrete data to inform a decision you've been considering.

Day 6: Review Your Tax Efficiency (15 minutes)

The Win: Find opportunities to keep more of what you earn.

How:

Tax-Advantaged Accounts

1. Model maxing out ISAs, pensions, or other tax-advantaged accounts
2. Compare taxable vs. tax-deferred growth over 20 years
3. See the compound difference
4. Set up tax allowances in Settings to track your ISA and pension limits
5. See how Doughsense automatically caps contributions at the annual limit in your projections

Income Tax Planning

1. If you have variable income, set up a tax savings estimate (e.g., 30% of gross)
2. Track deductible expenses separately
3. See your true take-home pay after all deductions

Result: A clearer view of your effective tax position and potential optimisations.

Day 7: Run a "What If" Scenario (10 minutes)

The Win: Test a big decision before committing to it.

Try one of these scenarios:

"Can I go freelance?"

1. Replace salary with projected freelance income
2. Add self-employment expenses
3. See your new runway and growth trajectory

"Should I buy or keep renting?"

1. Model buying with down payment and mortgage
2. Compare to renting with investing the difference
3. See the 10-year net worth comparison

"What if I change careers?"

1. Adjust income during a transition period
2. Add any retraining or relocation costs
3. Model the recovery timeline

Result: A concrete view of your options based on your actual numbers, not guesswork.

Your First Week Checklist

• Calculated complete net worth
• Set a retirement target
• Analysed additional income streams
• Set up multi-currency tracking
• Modelled a major life decision
• Reviewed tax efficiency
• Ran a "what if" scenario

What's Next?

These exercises give you a solid foundation. From here, you can:

• Refine your data - Add more accounts, expenses, and income for better accuracy
• Set more milestones - Track progress towards multiple goals
• Review monthly - Keep balances updated for accurate projections
• Explore scenarios - Use the timeline to test decisions before making them

Ready to go deeper? See Managing Your Finances for a complete walkthrough of portfolios and budgets.