Business Tips Tricks and Enhancement
As I have mentioned, your net worth is important only as it relates to your situation. It is not a contest and there are no accepted benchmarks with which you can compare yourself. What seems like a small net worth to one person will appear to be a fortune to another—it all depends on your goals and expectations. Remember, the reason to get your finances in order is to help you live the kind of life you want, not to meet other people’s expectations.
Many people use the Net Worth Calculator on a one-time or occasional basis to get a quick snapshot of their financial situation. You can also use it on a regular basis to track changes in your financial picture. Once a year is typical, although you might want to do it more often if there are significant changes in your financial picture. My advice is to create a new workbook based on the template each time you do it and save each one with a name that includes the date, such as Net Worth May 2005. In the future you can go back and review these workbooks to see how your net worth has changed over time. Be sure that you are consistent each time you fill out the template, including and excluding the same things each time.
Now that you have net worth under control, we can move on to the next chapter where you will learn about managing your money with a budget.
Taken From : Manage Your Money and Investments with Microsoft Excel
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