Net Worth Explained | Money Minutes
Inevitably along your money journey, you start to think about your net worth. How much should you have saved up? How do you stack up against others in your income bracket or your age group? Net worth comparisons are very common. Because once we compare ourselves to our peers, well that tells us where we stand.
But first yo have to start with YOUR net worth. And one of the most basic money tasks you do is calculating your net worth. This Money Minute short is aimed at all those new to the finance world and new to their own money journey. Remember, we all start somewhere and the basics never change. The basics are our foundation and from where we grow.
How often should you calculate your net worth? Well, I would say it's good to look at it every 6 moths or ever year at a minimum. If you are numbers person and kind of nerdy 🤓 when it comes to your own personal finances, well I bet you are checking it a lot more often than that! And that's, great...because there really is no one right answer when it comes to how frequently you should be checking.
So let's dive right in....what is net worth, how to do you figure it out...and where do you stand when it comes to your peers.
Disclaimer: Please note that this video is made for entertainment purposes only and not to be taken as financial advice. Always make sure to do your own research.
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