Net worth is the main measurement of your wealth. The best ways to increase your net worth are to increase your assets and to reduce your debts. Try tracking all of your expenses and gross income for several months. The results will help you to determine where your current income comes from and where it goes. This information can help you better budget your spending and decide how much money you can set aside for meeting future needs and goals.
Many people find they are spending more than they bring in.
It's difficult to increase your net worth in order to meet your financial goals, if you are constantly falling behind on the income front. Most causes of overspending can be resolved through the use of a budget. By setting up an annual budget can help you prioritize and limit your expenses and in the same time uncover ways to free up more money to use for savings and investments. Above all, remember that arriving at a workable financial strategy is a negotiation process. Too often people try to give up who they are and it backfires.