We talk about it often with celebrities or famous entrepreneurs and CEOS, but have you ever thought about your own net worth?
Your net worth is the total wealth of you as an individual, your company or your household, taking account of all financial assets and liabilities.
This sounds more complicated than it really needs to be. First thing on the agenda, make a list of all your assets (home, car, savings accounts, investments, etc.) The second step is to make a list of all of your liabilities (mortgage, personal loans, etc.). The third step in finding your net worth is to take the total for your liabilities and subtract it from the total of your assets. The remaining number, whatever it may be, is your net worth.
This list is constantly growing and changing so it helps to track it all on a spreadsheet or through an app. Some recommended resources include:
Your net worth is smart to track. If you have a good idea of where you are standing financially, you can make more educated decisions about your financial future.
Get a hold on your financial future today!