3 reasons to know your net worth
- For an accurate picture. Consolidating the amount of all your debts and all your assets in one place will give you a better overall understanding of your financial health.
- For an action plan. Seeing your assets and liabilities on paper can suggest where you need to focus attention. For example, you may realize a consolidation loan will streamline debt and save you money. Or you might decide to consolidate your bank accounts for greater simplicity and cost effectiveness.
- For financial empowerment. You may be able to use the information to your benefit. If you're thinking about buying a home, for example, bringing an up-to-date list of your assets will not only aid the mortgage application process, it may help you get a better interest rate by ensuring the lender is aware of your good financial health.
Discover how taking stock of your financial picture can help.