Do you know your net worth?
According to the Association for Financial Counseling and Planning Education, only 5% of people know their net worth. That number just seems crazy to me!
However, I believe it.
There have been many times when someone has told me that they have no idea how much debt they have, how much money they have saved, what their assets are worth, and so on.
Even more shocking, some can’t even give me an estimate and have no clue whatsoever about what the amount would be. Or, when they do give me a number, their significant other chimes in about how they are extremely wrong. [Read more…]