July 29, 2021

Net worth, simplified, is the difference between your assets (what you own) and …


Net worth, simplified, is the difference between your assets (what you own) and liabilities (what you owe). This helps you get an overview of where you stand financially. ?

I personally update my net worth the last day of every month with a goal of increasing it. If your liabilities exceed your assets, your net worth will be negative. Don’t let this alarm you because with clear goals in mind, you can reverse it and start building wealth! The goal here is to move forward ➡️ and not backward. ⬅️

-Common assets not listed above: house value, smaller vehicles, valuables/jewelry
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-Common liabilities not listed above: mortgage, medical bills, personal loans
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Do you calculate your net worth? Agree or disagree on something? Let’s chat in the comment section!

—— Follow: @spacecitymoney for more ——

⚠️ I am not a financial advisor, the information provided is for educational and/or entertainment purposes only and does not constitute financial, accounting, or legal advice. ⚠️

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