I have been trying to understand financial health beyond just tracking monthly expenses. Which five numbers should a person review regularly to get a realistic picture of their financial position? As lotsa people say, it is net worth, savings rate, debt, emergency fund, or investments? If so, how frequently should these numbers ideally be checked-weekly, monthly, or quarterly to identify whether your financial health is actually improving?
I’d give you two suggestions here.
I personally wouldn’t give too much importance to net worth because it’s cumulative and can sometimes just make you think, “Okay, I’ve reached this much, now I need to build even more.
One major thing that’s missing is the FIRE number. It may seem a bit overrated, but personally, having that number has given me clarity on when I can stop thinking so much about investments and be a little more relaxed. It gives some mental peace overall. I think checking this once or twice a year is more than enough.
The second is free/liquid cash. I personally used to miss this too, as the focus is mostly on investments. But having enough cash readily available can be very useful when something important comes up. This is something I’d keep an eye on twice a week, just to make sure it hasn’t gone below the level I’m comfortable with.
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I think one number people probably underestimate is their monthly burn rate.
Knowing your net worth is great, but knowing exactly how much it costs to maintain your current lifestyle tells you a lot more about how financially comfortable you actually are.
For me, I would track :
Monthly expenses/burn rate.
Liquid cash available.
Total debt + EMI burden.
Invested assets.
Net worth.
And I wouldn’t check everything every week. Expenses and liquid cash can be monitored monthly, while net worth and investments probably make more sense quarterly.
Otherwise you end up checking your portfolio every other day and convincing yourself your financial health has changed because the market moved 2% 
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