The first step to staying on top of your finances is understanding where you are currently. A personal balance sheet can help you achieve precisely that.
But what exactly is a balance sheet, and how can you put one together?
In today’s episode, Dylan walks you through creating a balance sheet so you can better plan your budget and set goals for increasing your net worth.
Show Highlights
[02:03] The importance of creating a balance sheet
[05:32] What counts as assets?
[11:35] Why you shouldn’t view your primary home as an investment
[16:38] Why cars and chattels are not assets
[18:40] What liabilities are and what counts as liabilities
