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Picture this: you're on a golf course, hanging out with a bunch of rich people. Do they brag about how much they make? About a raise they recently got?
They brag about what they're worth. While puffing on overpriced cigars and making jokes in poor taste that no one calls them out for, because everyone's always sucking up to them.
Disclaimer: I don't play golf, but I imagine this is what's going on on golf courses, right?
The point is: rich people don't think in terms of income, they think in terms of net worth. And this is a rich people habit that is really worth adopting - even if you're currently extremely broke.
To make this more practical, we're not just going to think in terms of net worth, we're going to start tracking/measuring net worth. Here's the Net Worth Tracking Sheet I use: click here
Note: this is a Google Sheet. You can make a copy of it to have an editable version you can start using. Do not request access to edit the original. That's not going to work.
Why does this matter?
Because "what gets measured gets managed".
Seeing how your net worth changes over time will help you better understand what's going on financially in your life. And even the mere act of measuring this will make it much more likely that you'll build up your net worth over time.
Since I've made a few specific recommendations, now is a good time to check in and see if you agree or if you want to make different decisions for yourself.
- Do you understand why I'm making the suggestions I do? Do you understand the principles behind them?
- Do you agree or disagree with what I've said so far?
- What are some things you feel like you need to research and learn more about?
Click here to get these questions in a worksheet.