DanCavalli's picture
From DanCavalli rss RSS  subscribe Subscribe

Are you on Track for Financial Independence 



Find out if you are on your way to financial independence. I will also teach you on how you can be financially independent.

 

 
 
Tags:  debt elimination  debt help  financial independence  credit  debt  debt management  debt reduction  money  money management  personal debt 
Views:  599
Downloads:  4
Published:  April 17, 2010
 
0
download

Share plick with friends Share
save to favorite
Report Abuse Report Abuse
 
Related Plicks
Managing Credit Card Debt

Managing Credit Card Debt

From: DanCavalli
Views: 1002 Comments: 0
Its the start of the year, have you started managing your credit card debt properly?
 
Documents About [Debt]

Documents About [Debt]

From: cchuu
Views: 1290 Comments: 0
Documents About [Debt]
 
[Finance]Debt Consolidation   Preventing Debt Problems At An Early Age[13475]

[Finance]Debt Consolidation Preventing Debt Problems At An Early Age[13475]

From: anon-185166
Views: 516 Comments: 0
[Finance]Debt Consolidation Preventing Debt Problems At An Early Age[13475]
 
See all 
 
More from this user
Debt Solutions: Tips To Reduce And Eliminate Debt

Debt Solutions: Tips To Reduce And Eliminate Debt

From: DanCavalli
Views: 3095
Comments: 2

How To Pursue Online Business

How To Pursue Online Business

From: DanCavalli
Views: 3014
Comments: 1

Wealth Building In Your 20s

Wealth Building In Your 20s

From: DanCavalli
Views: 2587
Comments: 0

Honest Home Based Internet Business for Christians

Honest Home Based Internet Business for Christians

From: DanCavalli
Views: 2743
Comments: 0

The Number One Reason To Get Out of Debt Now

The Number One Reason To Get Out of Debt Now

From: DanCavalli
Views: 2424
Comments: 1

Debt Reduction Strategies

Debt Reduction Strategies

From: DanCavalli
Views: 2788
Comments: 0

See all 
 
 
 URL:          AddThis Social Bookmark Button
Embed Thin Player: (fits in most blogs)
Embed Full Player :
 
 

Name

Email (will NOT be shown to other users)

 

 
 
Comments: (watch)
 
 
Notes:
 
Slide 1: By: Dan Cavalli Money and Business Strategist
Slide 2: Calculate Your Worth Most people dream of financial independence, but financial independence is always something that happens in the future for them. This type of thinking is easily identified by phrases that start with, “Someday I’ll…” If you are guilty of this type of thinking, it is time that you start living in the here and now.
Slide 3: While it is not a crime to dream about the future, you need to have a solid understanding of where you stand today and what it will take to make your dream future become a reality. The first step in determining how financially sound you are and how much work it will take to become financially independent is to create a net worth statement.
Slide 4: A net-worth statement will show you how much money you are worth currently. One of the easiest ways to create a net-worth worksheet is to download a free worksheet online. You can easily find such a worksheet using a simple keyword search and your favorite search engine. Of course, you don’t necessarily have to use a worksheet. If you can remember all of your assets and information without the aid of a worksheet, by all means do so. The first part of the worksheet refers to all of your assets.
Slide 5: Here you will enter anything that you own that has value including checking account balances, savings balances, money market accounts, certificates of deposit, treasury bills, cash value of all insurance, investments, retirement funds, real estate owned, vehicles owned, furnishings, fine jewelry, collectibles and anything else of value.
Slide 6: Always record the fair market value of these items, not the amount that you paid for them. If you still owe money, record the amount that the property is worth. We will deduct debt in the next section. Next, list all of the money that you owe including money owed for loans, mortgages, alimony, child support, income tax liability, credit cards, personal debt, etc. Do not enter utility payments here or other payments that fluctuate with time or can be canceled such as cable and/or internet service. This section is for debt and credit payments only.
Slide 7: Now, it is time to see what you are made of. To calculate your net worth, simply subtract the total sum of your liabilities from the total sum of your assets. If your number is a positive number, you are doing something right. If your net worth is in the negative, you need to make some changes to secure a financially independent future. If your net worth is paltry or in the negative, do not fret.
Slide 8: It is more important to face your financial situation head on than it is to show a positive net worth at this point. Before you can make any changes for the better, you need to know where you stand. So, you have taken the first step toward a better tomorrow. To make sure that you stay on track, recalculate your net worth annually.

   
Time on Slide Time on Plick
Slides per Visit Slide Views Views by Location