Why Track Your Net Worth?
While monthly income is important, net worth is the ultimate measure of wealth. Tracking it over time allows you to see if you are truly building wealth or just spinning your wheels.
How to Increase Your Net Worth
- Pay down debt: Reducing liabilities is the most direct way to boost your number.
- Invest consistently: Growing your assets through compounding interest.
- Avoid lifestyle creep: Keep your expenses low even as your income rises.