Before you start inputting your Assets and Liabilities into the spreadsheet, it’s a good idea to first gather all of your data in one place. Use the attached worksheet to gather this information before you start inputting the data into the spreadsheet.
For this lesson, your assignment is as follows:
1) Make a list of all of your assets and assign a dollar amount to each asset based on how much the asset is worth. You may need to look at your bank statement, mortgage statement, retirement account statements, etc., to determine how much each asset is worth.
a. All of your bank accounts
b. The value of your home (if you are a homeowner)
c. Retirement accounts
e. And all other assets you own
2) Make a list of all of your liabilities. Look at your latest bill or statement to see how much you owe each of your creditors.
a. Mortgage (if you are a homeowner)
b. Car note(s)
c. All credit cards
d. All personal loans
e. Student loan
f. And all other debt you have
Once you have gathered all of your information, open up your spreadsheet and start inputting the data into the spreadsheet under the Net Worth tab.
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