what is your current net worth in monetary terms?
We know you are priceless but let’s take a look at your net worth before we start on your budget.
And look it’s lockdown. 😭You may feel like crawling under a duvet and ignoring the world but take even the smallest step on this programme and I promise you will feel better for it.
So What is an asset? These are items of value you own like your house, your car, your pension, your collectibles (handbags, art, jewellery etc), your cash balances.
What is a liability? These are items you owe like your mortgage, loans, debt on credit cards, taxes owed.
Your net worth equals your assets less your liabilities.
By this stage you should have a good view of your financial position. If it’s not positive, that’s ok. That’s what we will work on next. And if it’s positive,
then you will benefit from budgeting and understanding how much you have to invest when we start looking at investments later.
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