WHAT IS YOUR NET WORTH? WEEK 1 INTRODUCTION
By: Barry G. Allen- President & CEO
“Be sure you know the condition of your flocks; give careful attention to your herds.” (Psalm 27:23)
You cannot plan where you are going if you do not know where you are.
Why is it important to determine your net worth? To know without a doubt where you are financially is absolutely necessary before you can begin to do any serious financial planning to accomplish your goals, dreams and desires. In fact, the first step in financial planning is to determine where you are now, that is, determining your net worth.
The next four lessons will focus on your net worth. What is it? How do you determine it? How much is enough? What does it have to do with the Christian discipline of financial stewardship?
What is the definition of net worth? According to Webster, worth is monetary value, or the equivalent of a specified amount or dollar figure. Your “net” worth is the difference between the current value of everything you own (assets) and the balance due on all of your debts/obligations (liabilities).
Prayer Focus: Ask God to deliver you from one of Satan’s most devious plots, namely, the concept that your net worth belongs to you and not to God.
Next Week: Determining Your Net Worth
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The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.