Full Guide To Track Your Net Worth To Increase Your Wealth

Have you heard – poor people work only for income and Rich people work for net worth., why is that? I don’t know the exact reason. But, I think that, in most cases, lack of financial education and financial awareness are the reason for it (Robert Kiyosaki talks about fake education and teachers in his new book)Generally the poor man does not know much about his net worth, And he is also not absolutely serious about it. They care about somehow increase income or salary And they think the Net worth is not for them.

Top 5 reason to know your net worth:-

They Think Net worth belongs only to the rich, big people and the company and the business only… But this is not true … whether poor or rich Everyone has their own personal net worth, Whether the person knows about it or not Friends Note that – Net Worth is very important for any person or any business Net worth Is a very important financial value, And I believe Each of us must aware about their Net Worth And why am I saying this…


I am going to tell you 5 Reason, which will give clarity on why you must know your net worth…

So that you can understand the importance of net worth. The Very 1st Reason…Why you should know about the concept of your net worth? Net worth is the basic concept, it is the primary parameter, and it’s Decide who is rich, and who is poor, And if you do not understand the concept of a net worth properly, then You will never know who is really rich, who is really poor, As an example,

If you go through this list of the world’s richest men Mr. Jeff Bezos, owner of Amazon.com, is the world’s richest man today in 2019 And if you talk about India ……. you can see that Mr. Mukesh Ambani of Reliance Industries is India’s richest man … Now the question is – why, and on what basis is this list made Or on what basis it has been decided that Mr. Jeff Bezos is the richest man in the world, And Mr. Mukesh Ambani is India’s richest man?

Full Guide To Track Your Net Worth To Increase Your Wealth
Full Guide To Track Your Net Worth To Increase Your Wealth

So the simple answer is – NET WORTH, Yes, NET WORTH is the basic and most important factor, On the basis of which it is decided who is the richest man, and who is the poorest man. this is the first reason And that is why you must have an absolutely clear concept of worth in your mind, Because – if you don’t know the concept of net worth, So you will never know why Jeff Bezos is the richest man in the world .. Or why Mr. Mukesh Ambani is India’s richest man.

Now let’s talk about that second reason… Why you must know your personal net worth Net worth helps you a lot to understand that where you stand financially..today… And how many assets you really made, on which there is no loan or liability And When you know where are you today by calculation your net worth. You can easily understand that.. Where do you want to go financially, and how can you go there And for that, what steps you have to take.

first Like – if you calculate your personal net worth And you see that you have a total asset of 50 lakhs, But when you see that you have to pay 25 lakh rupees for a home loan, And you also have to pay 5 lakh rupees more in the form of credit card, personal loan or other liability, So you can understand that – your real net worth is 20 lakh rupees

And now by looking at the net worth, you can see your real financial picture and understand that You are not really as rich as 50 lakhs but only 20 lakhs as rich, And now after understanding your real financial status with the help of net worth. You can do good financial planning for your future life by taking some right financial decisions about it. What exactly do you have to do to be as rich as you want to be?

Now let’s talk about that third reason… Because of which you must keep information about your personal net worth, And that third reason is that – Net worth helps you a lot in understanding the real financial status of a business and a person. when you understand the net worth of a person or a business correctly, Then it becomes easy and more worth to do business with them… And also you can make a better decision to invest in a business, If you are clear about their current net worth …and doing business accordingly..you can avoid future problems…

Full Guide To Track Your Net Worth To Increase Your Wealth
Full Guide To Track Your Net Worth To Increase Your Wealth

As you may have noticed – most of us have a habit, Most people like to talk about their wealth, house car, land property, And they tell people more and more about their wealth and assets They talk and keep talking about their asset But, often they hide how much debt they have, And how much they owe in the market Like – maybe a person has assets of 1 crore. There is a magnificent house, and it has a magnificent car … and it looks very rich …. and does great things. But if you check his net worth then you find that there is a loan of 70 lakh on top of that person So now after understanding his real net worth…

if you are doing business with them…it may be okay… keeping his net worth in mind, If you do a partnership, or while lending money to hem, you can make a better financial decision But if you don’t see the net worth and do business without knowing their net worth… It may be regret and wrong financial decisions in the future… So it is very important that – any person with whom you are dealing Or any business you are investing in … try to understand its net worth very well on a priority basis and then decide whether you should really take any business deal with him or not? So that you have not to regret later And friends …

Now let’s talk about that fourth reason… Why you must keep information about your personal net worth, and that is – whether it is about your own net worth … or the net worth of another person or of any business … Good and strong net worth is a sign of financial stability and financial success Whereas a low net worth and weak net worth are a sign of financial instability and financial failure Like – one crore assets and zero loans means – 1 crore net worth Which may be a strong net worth which is a sign of financial stability and financial success But on the other hand, the total assets of 1 crore but 70 lakh loan means only 30 lakh net worth. And compare to the first one shows a low and week financial status…

So when you understand the concept of net worth correctly. then you know that if you want to achieve financial stability and financial success …. and to be truly rich you have to make your net worth strong And that is why – Rich people work for net worth, while poor people work only for income, The higher your net worth the more stable and financially successful you will be And friends …

Now let’s talk about that fifth reason… Why you must keep information about your personal net worth, and that is Whenever you want to take a new loan, the net worth helps to understand that How will that loan affect your financial status And whether the burden of this new loan will be comfortable for you, Net worth also helps you to understand that – – If in an unfortunate case in the future if your business is closed … or if you lose your job And because of which you need to close all your loans close together… So in such a case, does your net worth really support to repay that loan with interest?

Full Guide To Track Your Net Worth To Increase Your Wealth

it should not be Negative net worth when you try to pay all the loans together. Like – Suppose your total wealth is 50 lakhs. And a 30 lakh home loan and another loan is already on you, And in such a situation, you want to take another new 5 lakh car loan So this means that your net worth which is already 20 lakhs By taking this new loan, your net worth will be 1.5 million And maybe it will have a very negative effect on your financial status in an unfortunate case in the future…

So, guys .. I hope that after you understand these five reasons and must have understood well … that you must understand the concept of net worth and its importance … And now you know that – why you should worry about your net worth .. and you should be aware of your net worth.


5 thoughts on “Full Guide To Track Your Net Worth To Increase Your Wealth

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