I assume you have downloaded the latest Power BI file from here.
In order to use it you will need to:
- Download & Install Power BI Desktop (Free) – Here’s a YouTube video how to do that.
- Open Financial Freedom Power BI PBIX file.
- You will see two tabs: Welcome and Financial Freedom Dashboard.
- Navigate to Financial Freedom Dashboard page (at the bottom)
- You will see here sample data, in order to enter your own data please:
- Go to Power Query Windows by clicking home // transform data // transform data (See image below)
- In Power Query Window, Open query source by clicking Financial Data query on the left side (Queries window), on the right see Query Settings windows should be visible, click cog icon against first line called “Source” (See image below)
- Fill in the data for the following columns:
- Take home (Your yearly income after tax)
- Year
- Take home Target (Your goal you want to achieve)
- Take home Potential (The potential the job market offers for your skillset).
- Investments (Total money invested)
- Re-investments (Total money invested from investments, e.g. If you earn 5k from 50k investment you can reinvest 5k profit).
- Expenses (All your yearly expenses)
- Savings (Amount of savings each year)
- Expenses Target (Your goal for expenses)
- Savings Target (Your goal for savings)
- Cushion (This is a financial cushion expressed as a fraction of a year, It’s calculated by Savings / Expenses, for instance 15k / 30k is 0.5 (6 months).
- Data (Enter name for your dataset, same name for each row. You can also create a new set of data by entering a new name which will appear in the drop down box on the report).
I hope you will find this dashboard useful.
Take care
Emil