Know Your Net Worth - Deepstash
Know Your Net Worth

Know Your Net Worth

Net worth is what would be left if you were to sell everything you own and pay what you owe. If you have a positive net worth, continue working to increase your net worth, but if you have a negative net worth, analyze your budget and plan how to increase it.

Make sure to re-calculate your net worth every month or so to keep up to date with your finances.

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"There's no money in poetry, but then there's no poetry in money, either." ~ Robert Graves

These are pretty basic but we would all be far ahead financially if we did a few of them.

The idea is part of this collection:

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Net Worth = Assets - Liabilities

Net Worth = Assets - Liabilities

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....

Why you should know your net worth

  • Knowing your net worth provides you with an actual state of your finances.
  • It can also tell you how close you are to achieving financial independence.
  • Tracking over time helps you know if you're spending too much month after month.
  • When opening a bank or brokerage...

Know Your Net Worth

It can help you to determine when you are and how to get where you want to be.

  • You can identify areas where you spend too much money. Do you need it or merely want it?
  • Pay Down Debt. You can develop a plan for paying down debt.
  • Your net worth figures can motivate you to...

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