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Achieving financial well-being: 25 actions for successful families living overseas

By Sam Instone - August 09, 2023

Strong financial foundations are critical to achieving the flourishing life you envision for yourself and your loved ones.

This checklist of 25 action points serves as your map.

It will guide and empower you to make well-informed decisions...

That align with your (and your family's) long-term goals.

It covers crucial aspects of life financial planning, from understanding your financial beliefs and emotions, to securing your family's future through estate planning.

By addressing each point on the checklist, you'll get a clear understanding of your financial situation, identify areas that need attention, and proactively plan for your future. 

How many can you and your family confidently tick off?

1. My financial decisions support the life I want to live and the person I want to be.
Action: Ensure your financial choices align with your life goals and values.

2. I understand the beliefs, emotions, and biases that influence my financial decisions.
Action: Recognise and manage emotional influences on financial choices.

3. I have a clear view of my complete financial picture – all of my assets (what I own) and my liabilities (what I owe).
Action: Gain a comprehensive understanding of your financial position.

4. Money is not a cause of stress, anxiety, or worry in my life.
Action: Address and manage any financial stress or anxiety.

5. I have specific financial goals and clear strategies to achieve them.
Action: Define clear financial objectives and create actionable plans.

6. I review my financial goals regularly and track my progress towards them.
Action: Consistently monitor and adjust your financial goals.

7. I know my household income last year.
Action: Assess your household income to make informed decisions.

8. I know how much of my after-tax income I'm able to save each month.
Action: Determine your monthly savings capacity.

9. I track my cash flow each month and know how much I spend, save, and invest.
Action: Monitor and understand your cash flow.

10. I'm taking advantage of all available strategies to reduce the taxes I pay.
Action: Optimise your tax planning to minimise tax burden.

11. I review my taxes and proactively plan for upcoming personal, professional, and financial changes.
Action: Regularly review and adapt your tax planning.

12. I know how much of my monthly income goes toward debt payments (mortgage, car loan, student loans, etc.).
Action: Assess debt obligations and their impact.

13. Debt and monthly payments are not a cause of stress in my life.
Action: Address and manage debt-related stress.

14. I know how much of my after-tax monthly income I'm investing.
Action: Determine your investment contributions.

15. I have a clear picture of all investments and the level of risk I'm taking.
Action: Understand your investment portfolio and risk exposure.

16. I know how many months of expenses my emergency fund could cover.
Action: Ensure your emergency fund is adequate for unexpected situations.

17. I have insurance coverage in all of the categories that are important to my financial well-being (e.g. health, disability, life, and property e.g. home, car).
Action: Review and secure necessary insurance coverage.

18. I review my insurance policies regularly and after major life changes to ensure they are up to date.
Action: Periodically update insurance policies to reflect life changes.

19. I know when my estate planning documents (e.g. my will, financial power of attorney etc.) were executed.
Action: Ensure your estate planning documents are current.

20. I review my estate planning documents regularly to ensure they are up to date.
Action: Regularly review and update estate planning.

21. I know, as a percentage of my income, how much I'm saving for retirement.
Action: Determine your retirement savings rate.

22. I know how much I've already saved towards retirement.
Action: Assess your current retirement savings.

23. I know how much money I need to save to achieve a financially secure retirement.
Action: Have a clear retirement savings goal.

24. I have the expertise and time to effectively implement all aspects of my financial plan.
Action: Evaluate your ability to manage financial planning tasks.

25. I periodically review my financial plan to evolve my strategies when there are changes in my life.
Action: Regularly adapt your financial plan to changing circumstances.


Financial well-being is an ongoing journey. One that supports good health, great relationships and strong purpose to enable you to thrive. Regularly review and adjust your financial plan as life changes occur.

Whether it's welcoming new family members, transitioning to retirement, or moving country, staying proactive and adaptable is key to achieving long-term financial security.

If you feel you need a helping hand, consider seeking professional financial guidance to optimise your strategy and ensure it aligns with your unique circumstances and goals.

Life financial planners experienced in working with successful families living overseas can provide valuable insights and tailored solutions for your specific needs.

By prioritising financial well-being and implementing the 25 items above, you can confidently move towards a flourising future filled with financial security, freedom, and peace of mind.

Save and invest for a better life