As the year ends, we usually draw up our financial balance sheet to take stock of our assets and liabilities. This reflects our financial health, guiding us to areas we need to pay attention to and also our strengths we can leverage for future growth.

But how often have we taken a step back and prepared a ‘Life Balance Sheet’? Our ability to take a holistic look at our lives can give us an insight into ourselves.

It would be interesting to see what all we classify as our assets. Beyond the obvious health, family and friends, financial and professional well-being, we must reflect and discover for ourselves our other assets in life. It will serve us well to remember that assets not cared for can soon become liabilities.

Our liabilities are not just what we owe others. Everything in our life that holds us back from maximising our potential and happiness is something we need to remove from our life balance sheet. When we think about it, we may discover that we are carrying some relationships and emotional baggage that are hurting us. Liabilities when discharged can unleash the potential of our assets. And some liabilities when worked on can become an asset we never knew could exist.

It would be wonderful to live with just assets with nothing coming in our way, but we know that’s not realistic. Life gives us a balanced share of experiences to help keep us balanced.

And just as others are part of our balance sheet, we too find a place in the life balance sheet of others. An honest look at ourselves will tell us whether we appear on their asset or liability side. Reflecting on that in times of silence will guide us going forward.

A life balance sheet is never constant. It changes as we bring about change in our life. In our busy lives, we need to take a step back periodically and prepare our life balance sheet. We will discover that this life is the biggest asset we have.