Do you know where you are personally?

[Account Closed]

How many of you are aware of your personal balance sheet? While, I don't worry about pennies, I do track my balance sheet.

A personal balance sheet is slightly different than a business balance sheet.

Major Elements

Assets - Liabilities = Net Worth

It can be easy to think of investing as just the assets we buy, there is much more to it than that. Assets are great, but if your debt is to high it really doesn't matter.

Bottom line, I want to know that my net worth is growing and that I'm counting real assets and fully recognizing any debts that I have.