How much are you worth?

In my previous post I explained about what constitutes assets and liabilities. In this post I will deal about Net Worth, how to calculate it and the need for calculating net worth.

Want to know where you stand financially? Then calculate your "Net Worth". As I explained in my previous post,

Net worth is your total assets minus total liabilities

So lets see where I stand financially.

Assets:

Investment in ELSS	15000
House Advance	13750
Cash	20000
Total	48750

Liabilities:

Loans taken	0
Total	0

Networth = 48750 - 0 = Rs. 48750

Need for calculating net worth. I believe you would have heard about Intention - Manifestation concept. In short

Whenever you want to set a new goal for yourself, start by setting it. Take the time to become clear about what you want, but then just declare it.

Say to the universe, “Here is the goal. Make it so.”

Do not ask the universe for what you want. Declare it. Don’t ask. This is very similar to prayer, but you are not praying FOR what you want. You are praying WHAT you want. You are simply saying, “Here it is. Make it so.” It is like planting a seed in the ground. You do not say to the ground, “Here is the seed. Please, can you make it grow?” You simply plant the seed, and it will grow as a natural consequence of your planting and tending to it. It is the same with your intentions. Simply plant them. There’s no need to beg. Read about Intention - Manifestation more at Steve Pavlina's blog

By calculating Net worth monthly, you will slowly get the intention to increase your net worth. When this intention is firmly implanted in our sub-conscious mind, it will slowly manifest itself. So I would calculate my Net worth monthly.

Next post: Setting financial goals