By: Bo
I track my net worth each month as well as my debt/equity ratio. It's really awesome to watch your % of debt decrease as you are tracking your net worth. It's also nice to look back at each month and see from a year or two back how much progress you have made in your debt and your net worth.
By: maria@moneyprinciple
In reply to <a href="https://compoundingpennies.com/increasing-assets-and-decreasing-liabilities/#comment-397">Elaine@mortgagefreeinthree.com</a>.
Biggest liability; trust me on this one. Well worth it though.
By: Elaine@mortgagefreeinthree.com
I do my "financial Month End" every month too. Just to make sure I am on track.
Question - are my kids Assets or Liabilities - discuss LOL
By: admin
In reply to <a href="https://compoundingpennies.com/increasing-assets-and-decreasing-liabilities/#comment-390">Skint in the City</a>.
Well, glad that you are getting started. Let us know how it goes.
By: admin
In reply to <a href="https://compoundingpennies.com/increasing-assets-and-decreasing-liabilities/#comment-386">maria@moneyprinciple</a>.
I like your 'negative wealth' term.
By: Skint in the City
I don't do this but I'm going to start now! Always been a bit nervous of doing so in case I get bummed out by the result, but you're right - it's better to know which direction you're headed in so it can be changed if need be!
By: maria@moneyprinciple
Yep, I do track my/our net worth; and really enjoy seeing it going up, and up...This is how I started calling our debt 'negative wealth' - it is technically correct, save me using the 'd' word and focusing on it (you get what you focus on, right?) and make me different. I also think that Control Your Cash have got it really right - sell liabilities and buy assets is the way to a wealthy life full of joy.