Whats Your Worth
Send me an email and let me know if you got anything out of last week’s 3AT. Got some great stuff for you this week….
Many people measure their financial health based on their income, and even worse they set artificial milestones in their heads based on it. “I want to make $100k a year by the time I’m 30.” In reality that doesn’t tell much of a story, especially if you SPEND most of it. A better metric is net worth.
So this week’s action is CALCULATE YOUR NET WORTH. ADD up all your assets (savings accounts, retirement accounts, home equity, etc) and SUBTRACT your liabilities (student loans, car debt, mortgage, credit card debt, etc.).
Believe it or not…I track mine MONTHLY. Feel free to use my net worth template. Just change the dates, asset names and liabilities names, and enter the values.
Time for a self audit. What’s a self audit? It’s when you try to look at your life from an outsider’s point of view and rate yourself on how you are doing. A great tool to do that is Zig Ziglar’s Wheel of Life. Print it out and see how you would rate yourself in specific sections of the wheel (10 being the best). When you are done ask yourself….”Would my wheel spin?” If the answer is “no” it might be time to adjust what you are spending your free time on.
Feel free to adjust the section names to be more applicable to your life.
Go buy and read Gary Chapman’s “The 5 Love Languages.” The key to ALL relationships is LOVE. By learning the five love languages, you will discover your unique love language and the love languages of the people in your life. Ultimately you’ll learn practical steps to better show love to those in your life, in the love language that THEY can understand.
***WARNING: The contents of this post are intended to be incredibly shareable. Feel free to forward it to ANYONE you think would benefit. Let me know if you want to be added, removed, provide feedback, give me content for the next Three Action Thursday…***