Assets – Liabilities = Net Worth
Simple equation if you know the numbers on the left side of the equation. Knowing my family net worth is very important for me. I like keeping our budget under control. So, for many years a typical Saturday begins for me with opening the Quicken. I download all transactions from my debit and credit accounts. I assign those transaction into categories if they were not assigned automatically. Unfortunately there are no option to download our loan details from loan vendors websites, so I update it manually once a month. Sounds boring for many people, but it helps our family of four to survive without getting into big debt while both my husband and I were in school. There are a lot of tools in Quicken to inform me about our current cash flow, net worth, to setup the budget and view spending by categories.
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