Clarifying and setting your financial goals are the first
essential steps towards achieving financial health. Translating
those goals into concrete and actionable plans, and even knowing
whether or not you have achieved them, requires the second
essential step of determining where you stand financially.
At MsMoney.com, we refer to the process of achieving financial
health as a journey because along the way, you'll encounter
experiences, obstacles, and tasks that require thought and
patience to reach the final destination. The directions and
tools that follow can help you plan the trip.
We've compiled a checklist of the most important files you
need to assess your financial situation. From tax returns
to family wills, you can check them off as you get organized.
Use the MsMoney.com Net Worth Tool to figure out your net
worth, which is a powerful measure of wealth. Why do it? Your
net worth is like a snapshot that tells you where you stand
financially which, taken periodically over time, can be a
great yardstick to measure progress towards your goals.
Businesses look at cash flow statements to see where their
money is going. You should, too. By figuring out your cash
flow, you can get a handle on how you spend your money and
how you can start increasing (or stop decreasing) your net
worth.
|
