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.

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 (10 minutes)

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

How:

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

Result: A clear picture of which incomes deserve your energy.

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

The Win: One dashboard for finances across currencies.

How:

1. Open Currency in Settings and click Add currency for each currency you use
2. Add accounts in different currencies (e.g., a EUR savings account, a USD investment account)
3. Choose the currency your totals read in, from the same Currency editor
4. Check Net worth 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. Make a new plan for the change, so your base plan stays as it is
2. Adjust your income in it to reflect the change (e.g., a career break, a new job, reduced hours)
3. Add or remove expenses to match the scenario
4. Compare the two plans 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 under Tax 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: Test a Decision in Its Own Plan (10 minutes)

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

Make a new plan, then 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 incomes
• Set up multi-currency tracking
• Modelled a major life decision
• Reviewed tax efficiency
• Tested a decision in its own plan

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 - Test decisions in their own plans before making them

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