financial planning

Net Worth is Worth Tracking

Some say Net Worth is a GOOD number to track in order to determine whether you are making financial progress. Others say it’s the ONLY number to track.

What is net worth ?

Net worth (also generally referred to as wealth) is one measure of an individual’s material well-being or financial success, calculated by the amount by which assets exceed liabilities or debt. And yes; it's possible to have a negative number especially for young professionals with student debt; don't despair.

Assets – Liabilities = Net Worth

Why does it matter?

Yellow Ducks and Free Money

Yellow Ducks and Free Money

A minor fire storm of gossip and criticism hit the Toronto talk radio airwaves in early June as preparations for the Canada 150th birthday celebrations were fully underway!

The Province of Ontario, as part of the Ontario 150 tour, gave away a large grant funding (free money) with a portion going towards the rental of a large yellow duck. Reputedly the world's largest yellow duck, the six-story giant inflatable waterfowl was showcased at the Redpath Waterfront Festival from July 1st – 3rd in Toronto.

Financial Future Worries?

If you are concerned about your future finances, you are certainly not alone as noted in a global survey of 19,000 adult in over 19 countries (including Canada).

Nearly 68% (or two thirds) of the 1000 Canadians interviewed in the survey conducted by the Financial Planning Standards Council (FPSC) said they still had concerns about their personal finances. For those in mid-life, anxiety caused by an unknown financial future is greater with a reported 79% worried, which shows it is not wise to procrastinate in your early life.

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