Quote:
Originally Posted by Joy  And I'm talking about financial/material wealth here. |
Back in July of this year, I followed the advice from an audio program by a millionaire about measuring my net worth at the end of the month. He says if you want to be a millionaire, you got to be able to calculate where you stand. So, I calculate in one group all the money I have in my bank accounts, investments, and cash on the day I do the calculation. I called this "Assets". In another group, I calculated all the money I owe to people, institution, and the checks I've written but have not cleared yet on that day. I call this "Liabilities". Then I substract Assets from Liabilities and I have my net worth listed.
I do this at the end of each month on a spreadsheet, and I compare these snapshots month to month. I love doing this and I actually look forward to it.
So, that's I measure my financial wealth
