Financial Actions for the New Year 2022- Contributed by Team FINMISSION
As we are into the New Year 2022, we see people making resolutions of various kinds, more often than not about their physical or professional lives. We believe that focusing on financial health is as important as anything. Here, we advise "22" resolutions that could make an individual financially healthy and positive. 1) Assess your Net Worth for your present/current financial condition: - List and table your Net Worth in an Excel sheet or with pen & paper, Now this brings to a new term name Net Worth- So what is Net Worth? Your net worth is quite simply the sum total of your assets minus to the total of your liabilities. If you have more assets than liabilities, you have a positive net worth. If your liabilities exceed your assets, your net worth is negative. So, all your investments such Deposits, Mutual Funds, Gold, Real Estate should be added in asset side and add all your liabilities like EMIs, Maintenances and Utilities, Services etc Your net worth is a financia