Net worth. What’s yours?
It’s not something you want to broadcast with a tattoo on your forehead but it is a good snapshot of your financial status – an annual report card. So you know where you stand: the average net worth of the under-35 set is $6,936.
X-Y=Z.
What you OWN (X) minus what you OWE (Y) = what you REALLY have (Z).
One more time in jargon: your assets minus your liabilities = net worth. That $1000 in your bank account doesn’t equal $1000 in net worth if you have to pay back your friend/bank/school $500.
The list of what counts as an asset or a liability can go on longer than the Marvel franchise. Just remember: an asset = you own, a liability = you owe.
Are you doing a happy dance because your net worth is a positive number? Or are you doing one because it’s a negative number BUT now you know and knowledge is awesome? Whichever one, your to-do should be the same:
Continue to track your net worth - maybe a quick math twice a year
Aim to boost your income - negotiate that compensation 💰
Chip away at the debt - spend less on that card or look at student loan repayment strategies 🔨
Whatever your net worth, your self worth remains untouched. Knowing where you stand (as a trend year over year) can validate or motivate. We simply know that the better off stellar women like YOU are, the better off the world is.