Several years ago I met a great man named Jim Matush who became my friend and financial mentor, and one of the first things he told me to do was start tracking my personal net worth every three months. Being able to see how your assets and liabilities have fluctuated, where your money is allocated, and where your net worth is tracking is key to increasing your net worth when you are trying to achieve financial success, or even better…finical freedom.
This post will answer several questions about personal net worth, including:
– What is personal net worth?
– What is net worth important?
– Why should I track my net worth?
– How do I increase my net worth?
– How do I track my net worth? (With free Excel net worth calculator.)
Here’s a simple line graph showing what your personal net worth could look like after you start tracking it. Seeing the visual up and up helps keep you motivated to keep it growing even more.