How to Create a Personal Balance Sheet

The first step to staying on top of your finances is understanding where you are currently. A personal balance sheet can help you achieve precisely that.

But what exactly is a balance sheet, and how can you put one together?

In today’s episode, Dylan walks you through creating a balance sheet so you can better plan your budget and set goals for increasing your net worth.

Show Highlights

• [02:03] The importance of creating a balance sheet

• [05:32] What counts as assets?

• [11:35] Why you shouldn’t view your primary home as an investment

• [16:38] Why cars and chattels are not assets

• [18:40] What liabilities are and what counts as liabilities

Links and Resources

• Fiscally Savage

• Fiscally Savage Tools

• Fiscally Savage Workshop with Venus and Mars Podcast

• Fiscally Savage on Instagram

• Fiscally Savage on Facebook

• Fiscally Savage on Twitter