I’ll be honest when I first started hearing the term net worth I only thought about celebrities. You see the culture has forced us to just focus on what everyone else is doing instead of being concerned with our own lives and money. Today I’m sharing my money story about when I found out I had a negative net worth and what I had to do to start turning my net worth into a positive one.
What is a net worth?
According to thesimpledollar.com “In a nutshell, your net worth is really everything you own of significance (your assets) minus what you owe in debts (your liabilities).” Your net worth is what you are worth financially. If we were in school it would be your money report card.
I created an excel net worth tracker for you!
Once I started tracking my net worth each month my finances really started to change. It was really motivational for me each month to sit down and see where I stood. Tracking my net worth helped me see what money goals I should be focusing on. If you’re interested in purchasing my net worth tracker guide just buy it below. It also comes with an explainer video. if you don’t have excel don’t worry you can use google sheets for free.
Tracking your net worth can really change the game for your finances.
Don’t be ashamed if you have a negative net worth, it’s okay as long as you are dedicated to making progress you will not stay there, trust me I was once in the negatives as well. You too can get out, I’m rooting for you!