I’ve helped quite a few people get a handle on their finances. It can be a big job. But the starting place is always the same: calculate your net worth. What is your net worth? It’s what you have minus what you owe. Why do you start with your net worth? Because you want it to go up, and the only way to tell if it’s going up is to keep track of it.
Whether you’re in debt and trying to get out, doing ok but want to know if you’ll be able to retire, or just starting out on your own, knowing your net worth and being able to easily keep it up to date is essential to understanding your finances. And it’s easier than you think. Continue reading