Episode 88: Why do we need to calculate our Net Worth and Savings Rate?

2020-05-18

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Knowing your income and expenses are important. But just as important are numbers that show you the bigger picture of your financial situation and that’s where your Net Worth & Savings Rate come into play. Kelsa will walk you through how to calculate these, provide some insights as to why you might want to care about them, and even provide some tools for you to use! Notes from episode: Why your savings rate & Net Worth are important numbers to know How to calculate both of these figures Pros & cons of using these numbers

Knowing your income and expenses are important.

But just as important are numbers that show you the bigger picture of your financial situation and that’s where your Net Worth & Savings Rate come into play.

Kelsa will walk you through how to calculate these, provide some insights as to why you might want to care about them, and even provide some tools for you to use!

Notes from episode:

Why your savings rate & Net Worth are important numbers to know
How to calculate both of these figures
Pros & cons of using these numbers
Next steps once you’ve gained awareness of these figures
How to improve & strengthen your net worth & savings rate

Resources:

https://fred.stlouisfed.org/series/PSAVERT
Click here to get the downloads to calculate your net worth and savings rate. www.fiscalfitnessphx.com/episode88

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