Add up the total valued of your cash and other assets. Items could be cash, stocks, bonds, DCs, 401(k), real estate, the money you're owed. Your goal is to determine how much these assets would be worth if you were to convert them into cash.
Then subtract all your outstanding liabilities, such as credit card balances, student loans, mortgage(s), medical debt, car loans, private loans, payments remaining on a home or car lease.
Financial planning is the process which provides you a framework for achieving your life goals in a systematic and planned way by avoiding shocks and surprises. Read on to find out the top 10 rules that help to plan your finances better.
Not all uses of time are equal and this simple truth can make a big difference in life. Understanding how to get the most out of your time starts with knowing-in exact terms-what your time is worth. Here's how to methodically find out the value of your time.
We all have some idea of how much our time is worth. On extreme ends, it is easy to know if a task is worth your time. For instance, if someone offers you $0.07 per hour and another $7,000 per hour, you would have no problem to decide. However, in the middle of the time-value spectrum, it is less clear if a particular task is worth your time. While everyone has an hourly value, few people know the exact amount.
Use the Realized Income Methods to calculate the value of your time. It is based on the income you received and will help you make better decisions on how to spend money day-by-day. You need two numbers for your calculations.