Click HERE for a new video on the very useful concept of ‘Net Worth’. Plus click on THIS LINK to make a copy and create your own personal net worth tracker on Google Sheets, and HERE is more info on how to use spreadsheet software.
Once you have calculated your Net Worth, we suggest taking a look once or twice a year (but not more!), taking the time to update the numbers, and ideally, seeing that number get bigger because of your consistent focused action and increased financial fluency.
That said, you don’t need to use the spreadsheet software. You can start just using your Money Journal, and writing down all the balances of all your accounts and adding it up there. Just add it up!
This process may be confronting at first, but it is so useful, once you get the hang of it. It’s like organizing your closet—can feel overwhelming at first, but just keep going! It will feel better once you add it all up—like knowing where all your shoes are and organizing them.
And it doesn’t need to look good! This is just for YOU. For your personal information, so organize it however makes sense to you.
Have you heard of the concept of net worth? Will you try calculating your own if you haven’t already?
Let us know in the comments! And as always, thanks for reading this.
Quick Links:
Step 1 in the MGB Investing Starter Kit process is HERE
Step 2 is HERE --Keep a Digit Tally, like You Need A Budget or RocketMoney or our free tracker HERE
Step 3 is HERE
What is Investing? is HERE
What is The MGB Investing Starter Kit? is HERE
To buy our new self-paced investing course for $49, sign up by clicking HERE.
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