Learn more about moneyandinvestments with this collection
How to break bad habits
How habits are formed
The importance of consistency
Assets are anything of value that you own that can be converted into cash. Examples include:
Your liabilities represent your debts, such as loans, mortgages, credit card debt, medical bills and student loans.
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MORE IDEAS ON THIS
Determine your target net worth - where you want to be in the near-term and long-term future.
The following formula is helpful:
Target Net Worth=[Your Age−25]∗[1/5∗Gross Annual Income]
A 50-year-old with a gross annual income of $75,000 might aim ...
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Your net worth gives an overview of your financial situation at this point. It is the difference between what you own and what you owe.
Your net worth is positive if your assets exceed your liabilities.
A negative net worth is when your liabilities are greater than your assets....
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It can help you to determine when you are and how to get where you want to be.
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