BIGtheme.net http://bigtheme.net/ecommerce/opencart OpenCart Templates
Home / Financial Management / 15 Powerful Money Habits to Adopt Before the Year Is Over…

15 Powerful Money Habits to Adopt Before the Year Is Over…

It’s important to keep track of your monthly cash flow with a budget, but you also should get in the habit of looking at your bigger financial picture by calculating your net worth. “Net worth is the actual measuring stick of wealth, not your working income,” said Chris Peach, founder of personal finance blog Money Peach. “Therefore, checking your net worth throughout the year is a must.”

Every three months, he and his wife monitor their net worth by adding up all of their assets (what they own) then subtracting their liabilities (what they owe). For example, if you had assets of $385,000 in cash, investments and your home, and liabilities of $230,000 in mortgage and consumer debt, you’d have a net worth of $155,000.


Source link

About admin

Check Also

Just Listen: The IRS Is Telling You How to Have a Tax-Free R…

Americans had $5 trillion in assets in 401(k) plans in March, and recently Congress has ...

Watch: How to Know When to Approach an Investor…

On the new streaming show Entrepreneur Elevator Pitch, founders step into the Entrepreneur Elevator and have just 60 ...

Understanding the Risks of Wall Street Investing…

As individuals, we have little to no control over the investments made with our money ...

Leave a Reply

Your email address will not be published. Required fields are marked *