Now let us look at how financially fit you are. This is important as your financial resources affect not only your ability to reach your goals, but also your ability to protect those goals from potential financial crises. These are also the resources you will draw on to meet various events

How financially fit are you?

NET WORTH as part of the fitness program In order to establish how financially fit you are, you need to measure your fitness level. Using a simple tool called Net Worth Calculator. This exercise could be initially painful if you have not exercised for some time, it is difficult to start, it gets delayed will do it another day, we know the routine. When the warm up starts you begin to see the benefit. With all fitness routine the more you exercise the less the pain. The two areas you are about to exercise are:

Assets
Liabilites

Having exercised these two areas you can determine how financially fit you are.

Assets For Example

Value Of Car
Value Of Your Property And Where The Property Is Still Mortgaged It Is The Value Of The Equity
The Contents Of Your Home
Savings
Cash
Jewellery
Antique
Insurance Plans That Pay a Lump Either on Death Or on Maturity
Investments
Current Value Of Any Pension Plans(s) That You May Have.
Stock & Shares
Paintings
Heirlooms

Liabillites

The outstanding mortgage balance on your property
Credit cards
Store cards
Loans
Unpaid taxes
Any other liability

Net Worth = Assets - Liabilites

Net worth is the difference between your assets (what you own) and your liabilities (what you owe). Your net worth is your fitness level (wealth).