Do you know your net worth?
To put it in simple terms it means what you own (assets) less what you owe (liabilities). Let's take a look at the following example:
ASSETS
Cash
Current account 6,000.00
Savings account 500.00
Fixed deposit 15,000.00
Total Cash 21,500.00
Personal Assets
House 100,000.00
Car 40,000.00
Total Personal Assets 140,000.00
Investment
Shares 25,000.00
Unit Trusts 15,000.00
Total Investment 40,000.00
TOTAL ASSETS 201,500.00
LIABILITIES
Housing loan balance 50,000.00
Car loan balance 15,000.00
TOTAL LIABILITIES 65,000.00
*NET WORTH 136,500.00
*(201,500.00-65,000.00)
It would be a good idea to check your net worth at the end of every year.
Celebrate when your net worth is better than the previous year. You are richer!
Source: Net Worth
To put it in simple terms it means what you own (assets) less what you owe (liabilities). Let's take a look at the following example:
ASSETS
Cash
Current account 6,000.00
Savings account 500.00
Fixed deposit 15,000.00
Total Cash 21,500.00
Personal Assets
House 100,000.00
Car 40,000.00
Total Personal Assets 140,000.00
Investment
Shares 25,000.00
Unit Trusts 15,000.00
Total Investment 40,000.00
TOTAL ASSETS 201,500.00
LIABILITIES
Housing loan balance 50,000.00
Car loan balance 15,000.00
TOTAL LIABILITIES 65,000.00
*NET WORTH 136,500.00
*(201,500.00-65,000.00)
It would be a good idea to check your net worth at the end of every year.
Celebrate when your net worth is better than the previous year. You are richer!
Source: Net Worth
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