The Law of Conservation:
It’s not how much you make, but how much you keep,
that determines your financial future.
Many people make a lot of money in the course of their working lifetimes.
Sometimes, during boom periods, people greatly exceed their expectations and make more money than they ever thought possible.
The true measure of how well you are really doing is how much you
keep out of the amount that you earn.
Successful people are fastidious about putting away chunks of money regularly and paying down debt during prosperous times so that they have reserves set aside when the economy or business turns downward.
Calculate your true net worth as of today.
Make a list of all your assets and value them at the amounts you could actually get for them if you had to turn them into cash quickly.
Add up all your bills, credit card balances and mortgages and then
subtract them from your assets to get your net dollar worth today.
Now,
divide the number of years you have been working into your net worth.
The result is the net amount you have actually earned each year after
your costs of living.
Are you happy with it?
If not,
start today to do something about it.
NET WORTH = TOTAL ASSET – TOTAL LIABILITES
#Financiallesson
#hindifinancialeducation
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