A First-Gen Reframe on the Big 3 Numbers for Financial Goals
Chances are, you already kind of know your numbers—you’ve got a ballpark idea of what it takes to keep the lights on, how much you wish you had left over each month, and what you owe versus what you own. But when was the last time you revisited them with refreshed eyes, through a first-gen lens?
You’ve likely inherited all kinds of perspectives about these numbers, shaping your relationship with money. Maybe you’ve:
Felt guilty for even thinking about growing your net worth because “ew, capitalism 🫠”—or, conversely, tied your entire sense of worth to it.
Let your financial needs blur into everyone else’s because, hello, that’s what we do, right?
Felt weird or selfish for budgeting line items that are just for you.
Allocated every spare dollar (what we like to call “Nextras”) to caregiving, leaving your dreams somewhere in the “maybe later” pile.
Played small with your Nextras because dreaming beyond your responsibilities feels… intimidating.
If any of this feels familiar, know this: You’re not alone, and you don’t have to stay stuck here. This is your sign to hit pause and revisit your numbers with more self-agency.
Knowing your numbers is a power move
Here’s the thing: financial clarity isn’t about judgment or spreadsheets (okay, maybe some spreadsheets). It’s about getting real with yourself about what you want.
Knowing your Big 3 Numbers puts you in driver’s seat. You decide the pace at which you want to grow and activate your wealth. Maybe you’re in a season of stabilizing and slowing down. Or maybe you’re like, “Let’s GO,” ready to save, invest, or spend on a big goal. Or maybe, like most of us, you’re trying to find balance somewhere in between.
Getting clear on your numbers is liberating. It’s about cutting through the noise of everyone else’s outlook and finally making decisions that align with your priorities. It’s letting the numbers speak truth, drowning out judgements and expectations. And let’s be real: that’s a game-changer for first-gen breadwinners who are carrying a lot.
At New Dimes, we believe that revisiting these Big 3 Numbers—Your Needs, Your Nextras, and Your Net Worth—can help you set goals that feel good, sustainable, and actually doable.
The Big 3 Numbers you need to revisit
1. Your Needs
Let’s start with the basics: what does it take to keep your life running? Rent, groceries, bills, transportation, insurance—it all adds up. This should be the things that have tangible consequences if you don’t pay for them. And yes, this includes what you need for your mental health.
But if you’re caregiving for parents, siblings, or anyone else, your “needs” might look a little different. Ask yourself:
Are you blending caregiving costs with your personal needs—and is that sustainable?
Are you calling something a “need” when it’s actually guilt-driven? (We see you sending extra money you didn’t budget for because a family member also struggles with asking for help.)
Are you setting boundaries that let you help others without leaving yourself depleted?
New Dimes heat check: Caregiving deserves its own line in your budget. It’s not selfish—it’s clarity. This way, you’re honest about balancing your responsibilities to others AND your responsibility to yourself.
How to calculate it:
Look at the last 3-6 months of recurring expenses and make a list of things you spend money on each month, including caregiving. For expenses that aren’t fixed, average it out, but don’t be afraid to get granular if you’re dealing with seasonal costs. Be honest about what’s essential versus what’s driven by guilt or obligation.
Add up everything on that list. That’s your Needs number: the dollar amount it takes to run the basics of your life for one month.
2. Your Nextras
Now for the fun part: the Nextras. This is the magic number left after you’ve covered needs and wants. This isn’t your “treat yourself” fund—it’s your progressive dreams fund.
Your Nextras are where real transformation happens. This is where we get real about the pace we want to grow and activate our wealth. This number fuels:
Refilling your emergency fund, because yes, you should feel free and not scared to use it.
Growing investments in ESG categories, or creative assets that align with your values.
Supporting causes you care about through community care and mutual aid.
New Dimes heat check: Are your Nextras going solely to other people’s needs? Are you spreading them across too many goals and struggling to feel real progress? Be intentional. Yes, caregiving matters, but so do your priorities. Protecting even a small portion of your Nextras for yourself make you selfish.
How to calculate it:
Take a look at those 3-6 months of expenses, and average out what you spend each month on Wants — the non-essentials, the nice-to-haves.
Subtract your Needs and Wants from your monthly income to find your Nextras:
Income – Needs – Wants = Nextras
Once you’ve got it, brainstorm how to split it up each month between self-care, future growth, and real time community care in a way that lights you up. This part can get spicy. Bring it to a New Dimes Wealth Coworking Session for extra support, or do this with a friend who shares similar lifestyle and values around wealth.
3. Your Net Worth
Your Net Worth is your financial big picture in one number: what you own (assets like savings, investments, property) minus what you owe (debts, credit cards, loans).
For first-gen wealth builders, this number can feel... a lot. It might feel like a reminder of how far you have to go. But here’s the reframe: it’s also a tool to measure progress. Net Worth isn’t about where you are today—it’s about where you’re headed.
New Dimes heat check: If you’re covering debts for loved ones, reflect on how these liabilities fit into your long-term goals. Are you balancing this responsibility with the need to grow your own stability? Feeling weird about letting your Net Worth grow? That’s okay. You’re not a bad person for holding onto resources to fortify how you can safely activate them down the line.
How to calculate it:
List your assets (bank accounts, investments, property). Add those all up. Now, subtract your liabilities (debts, loans). If it’s negative, give yourself grace. Progress takes time, and you deserve to feel good about any size step you are taking.
Gather your numbers into a budget planning tool that works for you
Let’s make this easy. Choose the tool that resonates most:
For Those Who Love the Most Structure
Money with Katie Wealth Planner
A dynamic, big-picture-plus-tiniest-details spreadsheet that helps you budget, track, and grow your wealth in one doc. Best for folks excited to get into the manual nitty-gritty, undaunted by a medium-advanced Excel adventure.
For Creative, Somatic Thinkers
A 4-week self-guided budgeting course created by one of New Dimes’ experts-in-residence, first-gen Certified Financial Planner Diana Yañez. Diana’s curriculum includes journaling, body focused practices, and ritual around the phases of the moon.
For Simplicity Seekers
New Dimes’ Simple Budget Planner
An intentionally super chill spreadsheet that helps you get a full but simple picture of your current financial position. Best for folks who want to be comprehensive but get easily overwhelmed when there are too many options and details.
For Lovers of Automation
Apps like Monarch Money or Pocket Guard
With one caveat! Automation is convenient, but it also risks disengaging your brain and accountability. When everything is automated, it’s easy to lose track of what’s really happening. Sometimes, the act of filling things out manually—seeing the numbers in your own handwriting or entering them line by line—helps you get honest about what you want versus what’s actually happening.
Reflect, adjust, repeat
Once you’ve got your numbers, ask yourself:
Are your Needs realistic and sustainable?
Are your Nextras supporting both your goals and your caregiving boundaries?
Is your Net Worth growing at a pace that aligns with your values?
Don’t worry about getting it perfect. The point is to get it down, see what actually takes place, and make adjustments that continue to get you closer to where you want to be and how you want to feel. And remember, you don’t have to do this alone. Join a New Dimes Wealth Coworking Session or grab a friend who gets it to brainstorm and game plan with you.
You’ve got this
Your numbers tell a story—and revisiting them with curiosity and care lets you take control of the narrative, and changes your relationship with yourself.
So grab your favorite snack, put on a playlist, light a candle, and take your time digging in. Take it 30 minutes at a time. You’ve got this, and we’re here to help you build momentum.
Legal disclaimer & gentle reminder: The info in this email is here to educate and empower you. Everyone’s situation is unique, so we encourage you to connect and contract with certified experts, like a financial planner, tax pro, or lawyer, who can tailor their guidance to your specific needs. While we do our best to keep it accurate and helpful, think of this as a starting point—not the final word.