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Our Family Finances Update: January 2021

Family Balance Sheet

The backstory: In November 2019, my van was in need of new tires and I was debating on whether to get the new tires or start looking for a replacement vehicle. I talk a lot about debt freedom and that is still a goal of ours, and our Debt Freedom Plan will be adjusted. We…took out a car loan. Yes, you read that correctly!

Finance 130
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Net Worth Defined: What Is My Net Worth?

Savings Corner

To calculate your net worth, take inventory of what you own, as well as your outstanding debt. On the other hand, even people with modest incomes can accumulate significant wealth and a high net worth if they buy appreciating assets and are prudent savers. Or, you can think of net worth as everything you own less all that you owe.