Introduction

Formulate a Financial Plan

Know Your Net Worth

Manage & Minimize Debt

Accumulate Assets

Budget to Live Within Your Means

Understand Investing Basics

Plan for Retirement

Insure People & Property

Deal with Financial Advisors

Review Your Employment Contract

Make Plans for Your Estate

Make Good Decisions

Conclusion

In this chapter we begin our financial planning journey with a high-level discussion of the household balance sheet, debts, assets, and net worth. In two subsequent chapters we’ll take a closer look at debts and assets, respectively.

The figure below, courtesy of HowMuch.net, provides some context for net worth in countries around the world.

 

 

Source: "HowMuch.net, a financial literacy website"


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