Develop a Spending Plan. Forms to create one are available through Rutgers Cooperative Extension. Basically, you total all income sources and all monthly expenses, including one-twelfth of the annual cost of occasional expenses like property taxes. Organize Your Financial Records. Calculate Your Net Worth.
Net worth is household assets minus debts.
Try to calculate your net worth annually to measure your financial progress. Determine Your Marginal Tax Bracket. Check Your Credit File. New Jersey residents can get a free report annually from every major credit bureau. For a form to request a copy of your credit report, see the Rutgers Cooperative Extension Web site listed above.