Here s a way to make your own diagnosis. Pull out a notebook or use our worksheet and do an examination using the tips provided below.
Every journey starts somewhere.
Personal financial statements tell you the starting point of your financial journey. Start with a balance sheet and a breakdown of your net worth. On separate lines, list your assets. Liquid assets are those assets that are readily convertible to cash with no substantial reduction in value, such as money market funds. Invested assets are assets set aside for long-term financial needs.