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This is another process that’s worthwhile going through to help understand where you’re at financially. It’s a process of literally writing down all of your current assets and liabilities and working out, if you sold everything today, what would the net result be in money terms. In short, net equity value means, ‘What are you worth?’
It’s a case of listing all your assets (and their value) and all your liabilities (and value) and working out what you are worth.
In the assets column you might have your home, a car, cash savings and super (and maybe some investment properties). Your liabilities might include a home loan, credit card debt and a personal debt for a car.
Add up both columns and note the difference.
Knowing this is vitally important in working out your plans to reach your financial goals.
Complete this exercise to work out what you are worth.
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