Building Your Money Machine 054 Net Worth Your Key to Financial Freedom
Today I’m talking about one of the most important numbers to track on your road to financial freedom. We’ll discuss your Net Worth, how to track it, and build your road to financial freedom by setting different milestones that guide your steps towards your goal, which, in the end, is to create the money machine that will help you lead an affluent lifestyle. Yep, your Net Worth…but a special kind of Net Worth.
Now, it's important to know the impact your Net Worth has on your journey to financial freedom, and how it can be achieved differently from person to person. Not all Net Worth is created equal, but a first step is to figure out what you own and what you owe.
These are some core concepts that I will discuss further on the episode, and, hopefully, the answer will help you set the milestones that will guide you towards financial freedom.
Today, our conversation includes:
- What's the difference between what you own and what you owe, and how does it affect your net worth?
- What is “Money Momentum” and how does it work?
- What is the money machine in our affluent blueprint
- Importance of tracking your Net Worth while you’re building your money machine
- What's an asset versus what is an investable asset.
Resources mentioned:
- The Affluence Cash Flow Matrix ™ https://melabraham.com/wp-content/uploads/TAE-054-Affluence-Cash-Flow-Matrix-copy.pdf
- Episode 9: “Why assets are vital to your financial freedom”
- Episode 24: “What to do with your cash”
Ready to set a solid financial foundation?
- Register for a 7 Day Money Plan Workshop: TheMoneyPlanWorkshop.com
Connect with me:
- Website: MelAbraham.com
- YouTube - MelAbraham.com/tube/
- Instagram (melabraham9) - MelAbraham.com/ig/