Before now, I was part of the people that doesn't really believe in net worth because I think I'm poor and i don't have money but i was wrong, anytime i see people saying my net worth is this and that i do think it is not something to brag about, well I am not saying you should brag about it I am only saying that it is good to know and track your net worth.
Do you know why you need to think about your net worth all the time?
If you know your net worth you will be able to set limitations to your earnings, that is, you won't want to pass your boundaries spending on things and you will want to save more , this is because when you reach your limits you will know that you don't have to toch some particular money. For instance when i was so ignorant about knowing your net worth i us to spend any how, I buy everything i want in fact I don't use scale of preference at all not until i realized that i am not growing at all I'm just stagnant in one stage.
Another thing is if you are a business owner then it is a must for you to know your net worth because how do you want to keep track on your business. You need to know if you are gaining or loosing. I always think i have more money until i realized I'm so broke because I'm not tracking my expenses.
Furthermore if yuh know your net worth you will be living a life of an investor not just ordinary life, this means everything you will be thinking of is how to improve the money you have not how to spend more money on things that doesn't Worth it, an investor always save money and makes sure that he's growing up in everything he's doing every good day.
In a nutshell if you know your net worth you will know your standards and you won't spend money anyhow, some people buy latest clothes, shoes, wrist watch and doesn't have anything on them, well i do not say you should not spend on things like that because we can not walk naked anyways but then the most important thing is that we should control the way we spend.
Thanks for stopping by in my blog please drop comments and let me know how you feel.