152 Paul Lawrence Vann - Finish Off 2021 Financially Strong

One of the first things people should do this time of year consists of developing a net worth assessment. A net worth assessment includes finding out what all of your assets are.

Assets - bank accounts, house, vehicles, college funds, etc.

Liabilities - Mortgage, car loans, credit card debt, loans from family, etc.

The next step in the process is to subtract all of the liabilities from the assets and this results in your net worth. All to often some people manage their finances off the cuff and it typically leads to overdrafts, and more.

Another aspect one should consider this time of the year is tax preparation. Even though you can file your taxes in January, collecting the documents such as pay stubs, invoices, end-of-year mortgage, real property taxes, and bank statements.and  interest statements to name a few. 

The bottom line is this, the more financially astute you are and proactive with your finances the better lifestyle you will be able to live because aligning your personal finances with your life, the fewer worries you will have in your life and that of your family.''

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