How financially aware are you?

18/08/2026

The 2-minute Financial Awareness Test

Do you know whether your business is actually making a profit right now?
Not according to the accounts we prepared months ago – today.
Do you know how much money your business needs each month just to cover its costs?
Including those annoying annual and quarterly costs that sneak up on you.
Do you know how much you need to sell to cover those costs AND pay yourself properly?
Because your own income shouldn’t simply be whatever happens to be left.
Do you know which parts of your business make you the most profit?
Your biggest-selling product, service or customer isn’t necessarily your most profitable.
Do you know whether your prices are genuinely profitable?
Not just based on what your competitors charge or what feels reasonable.
Do you know how much of the money sitting in your bank account is actually yours to spend?
Once you allow for VAT, tax, payroll and other upcoming commitments, that healthy-looking bank balance can suddenly look rather different.
Do you know what tax bills are coming up and have the money ready for them?
The tax should be planned for, not followed by a frantic reshuffle of the bank accounts.
Do you know roughly what money is due IN and OUT of the business over the next few months?
Profitable businesses can still run into trouble if the cash doesn’t arrive when they need it.
If your sales dropped by 20% next month, would you know what action you could take?
Understanding your numbers isn’t only about growth, it helps you spot where you have room to manoeuvre when things don’t go to plan.
Do you regularly use your financial information when making business decisions?
Or do you tend to make the decision first and look at the numbers afterwards? 👀

So how did you do?

16-20 points – You’re financially switched on 🥳

You’ve got a good understanding of what’s happening financially in your business, and you’re using that information to help you run it.

Keep doing it and keep asking questions of your numbers.

10-15 points – There are a few gaps 👀

This is probably where a LOT of business owners sit.

You know broadly what’s happening, but there are areas where you’re relying on gut feeling, your bank balance or the occasional peek at Xero.

Those gaps are worth working on because the better information usually means easier, more confident decisions.

0-9 points – It’s time to get curious 🤔

Please don’t interpret this as “I need to become better at accounting.”

You don’t.

But you do need to understand your own business. Start with the questions you scored zero on and tackle them one at a time. And if you don’t know where to find the answer, ask us as that’s exactly what we’re here for.

One final thought…

Your accounts tell you what has already happened.

Financial awareness is about using those numbers to help decide what happens next.

You don’t need to become an accountant to do that.

You just need to get curious about your numbers.