Step 3 : Claim And Commit To Your Financial Goal

I know that this may seem as a "non-contributor" in a financial planning guide lesson but I want to clarify this issue and how it relates to our financial life.

We often relate financial freedom to having lots of money, or how much money a person earns, spends, his cars, etc..... So in a natural way, we relate wealth to the amount of money a person has in his bank account.
For most people, if you don't have a big house, don't drive a Jaguar, or don't have the latest cellphone then you are not rich.

Step 3 : Claim And Commit To Your Financial Goal

Step 1: How to Compute Your Net Worth

Now going back to the Steps of Setting our Financial Goal, we start with step 1 which is:
"How to compute your Net Worth"

I know a lot of people hate the subject of accounting (that includes my wife), but it is a necessity when it comes to taking control of our financial life. Although in this section we will discuss a few points in accounting but we will discuss it the simplest and practical way I can possibly explain.

Step 1: How to Compute Your Net Worth