Have you ever driven somewhere you’ve never been before? If you have, you likely used directions, a map, a GPS, or some other kind of tool to guide you to your destination. You probably didn’t get into your car, drive away, and simply hope for the best.
Unfortunately, that’s how many of us approach our financial goals. We have a financial destination or goal that we would like to achieve — freedom from debt, financial security, adequate retirement savings, etc. — but we try to get there without any guidance. We forgo financial tools and advice that can help us reach our goals. As a result, our journey to our financial goals is inefficient, or even worse, unsuccessful.
The financial tools that you need will depend on what your financial goals are. But whatever your financial goals may be, we suggest using a debt manager and net worth tracker.
The debt manager is a spreadsheet that contains pertinent information on all of your debts. Instead of pulling old bills or logging into different websites to find your monthly payments and interest rates, you can save this info and more in one document. Having all this information easily accessible can help you manage your debt.
The net worth tracker is a calculation of your assets (e.g., savings accounts, investments, owned property) minus your liabilities (e.g., loans, credit card debt). Knowing your net worth can give you a general picture of your financial health and help you monitor your financial progress over a long period of time.
Both of these financial tools will help you manage your finances. They can guide you, keep you focused on your goal, and alert you if you get off track. You can use the links below to download a copy of our debt manager and net worth tracker.
If you have any questions on these forms or if you are interested in other financial tools, feel free to leave a message below or contact us privately.