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DOWNLOAD: Tool to see a Snapshot of Your Personal Balance Sheet [Personal Finance]
DOWNLOAD Tool at a Glance:
A simple downloadable resource to calculate a snapshot of your personal balance sheet. An indispensable tool for anyone starting out to build a financial plan. To get a picture of your net-worth, you don't have to know the exact value of everything. A ballpark estimate will do. This exercise will show a lot of interesting things:
- Whether your debts are under control. Is your indebtedness growing faster than the money you are saving?
- How well are you investing the money you are saving.
- Is your investment account generally rising in value?
- How much money you could lay your hands on in an emergency. Do you have enough readily saleable assets to help you through an emergency?
Do this exercise at least once a year and preferably every six months. Your aim should be raise your net worth between this exercise, year after year through a combination of new savings, sound investments, and fewer loans.