What's your net worth? And how do you know if it's any good? It's not about comparing your net worth to others. It's about using 3 different ratios to see where you're at and where you need to be.
As I mentioned in this video, the first calculation you need to make is your net worth:
Net Worth = Assets - Liabilities
You can do this very easily using one of my budget spreadsheets which come with video tutorials showing you how to do it: https://jessicamoorhouse.com/shop
You can also download my FREE net worth cheat sheet here: https://jessicamoorhouse.com/networthcheatsheet
Then, once you know your net worth, do the following ratios to see where you're at and if have some work to do to get in a better financial position.
Basic Liquidity Ratio = Liquid Assets / Monthly Expenses
Liquid Assets-to-Total Assets Ratio = Liquid Asset / Total Assets
Debt-to-Assets Ratio = Total Debts / Total Assets
CHAPTERS
00:00 Introduction
00:45 What Is Net Worth?
02:45 Ratio 1
04:01 Ratio 2
06:06 Ratio 3
RESOURCES
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➡️ Net worth cheatsheet (free download) https://jessicamoorhouse.com/networthcheatsheet
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, blogger, YouTuber, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website https://jessicamoorhouse.com
#networth #personalfinance #wealth
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The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/
