How to access my financial situation and what action to take?

1. take out a spreadsheet

2. list down all your expenses, monthly bills, etc

3. list down income sources

4. monthly income - monthly expenses = how much left every month

see where u can cut down on expenses for a start.

check if your savings are enough for any emergency situation.

Can start by listing all your assets against all your liabilities.
This will give you your net worth.

Then list all income and all expenses. This will give you your cash flow. If you have a positive cash flow, then this is the amount you are left with each month.

For example;
Expenses- bills, food, travel, groceries, clothes, insurance, rental, loans, petrol, etc

For a clearer insight into where your money actually flows into, break the expenses into easily distinguishable classes. (See millionaire mindset for the 6 jars method).

From there adjust your expenses accordingly to meet what you would accept as your expenses nature/aim.

There you go, you will now have a clear view of your financial standing.

People try to improve the “income” part of the equation but the millionaire mindset teaches the value of “habit”. Learn the habit to save, put aside, allocate and it grows with regularity.

Good luck.