The second tip in the column on good financial advice is:
Keep track of your assets.
No doubt it is a very important habit. Keeping track of expenses and income is essential to be aware of one’s finances and to make, accordingly, the best decisions for the future but also for the present.
Monitoring your net worth is an essential step in managing your finances. ur net worth can measure your financial progress, whether you are getting out of debt, building an investment portfolio, or both.
Net worth is the result of all those daily and weekly decisions you make that eventually add up. All of these are reflected precisely in the net worth. Thus, it is the way to measure your financial progress over the course of each year.
We deal with over-indebtedness prevention related to usury risk every day throughlistening, counseling and support. We are approached by employees and retirees who are in a situation of imbalance between income and expenses and cannot pay their debts.
In the video we show you the steps to follow to receive free support.
If you find yourself in a similar situation, please contact us!
Learn about other financial best practices
Good financial advice #19 | If you have to borrow you can’t afford it
Had it ever occurred to you that if you have to borrow money then it means you cannot afford to make that purchase. Learn to manage the budget you have, without having to take out loans–because it might say you can’t afford it.
Good financial advice #18 | Spend less than you earn
If you set as a goal to live within your means you will immediately understand what expenses you can or cannot incur to avoid having to ask other people or the bank for money.
Good financial advice #17 | live within your means
If you set as a goal to live within your means you will immediately understand what expenses you can or cannot incur to avoid having to ask other people or the bank for money.
Follow us on our social media
