Whenever I hear or read about budgeting, I always cringe a little bit inside. As someone with very little self-will, the act of budgeting always strikes me as a crash diet that will quickly fizzle out a few weeks in. Nothing sounds worse than agonizing over every transaction, wondering whether or not I exceeded my monthly spending limits across ten different categories.
When I was an Analyst at an online marketing company, one of my responsibilities was to manage the performance of our clients’ advertising campaigns. If the performance of a campaign started deviating from its goal, it was my job to figure out why. Preferably before my client came knocking on my door!
If you are just getting started on your personal finance journey or looking for a better way to manage your money, one of the first places to start is tracking your net worth. Net worth accounts for all of the financial assets and liabilities you own, providing an overall picture of your current financial standing.