Welcome to step 2 of our Financial Freedom Fast Track course, by Rebel Finance School's Katie & Alan Donegan. In this video, we tackle an essential question most people can't answer: "What's your net worth?" Understanding this number is your first step towards building a formidable financial fortress.
Join us as we guide you through the process of taking stock of everything you own and owe. Most people have little idea where their pensions are invested or what assets they actually possess. We'll help you gain clarity about your overall financial picture, distinguish between valuable assets and costly liabilities, and start visualising your wealth-building journey.
Key Topics Covered: • How to calculate your net worth (it's simpler than you think!) • Building a proper emergency fund to protect against life's surprises • Understanding the crucial difference between assets and liabilities • Setting up simple systems to track your net worth over time
By the end of this session, you'll: • Understand why knowing the direction of your finances is essential for long-term success • Recognise that building wealth is a repeatable process that doesn't require luck • Master the fundamental steps to building sustainable wealth • Confidently define what net worth really means for your financial health • Clearly distinguish between wealth-building assets and wealth-draining liabilities • Break down the key elements that make up your personal net worth • Calculate your current net worth and analyse the balance of your financial elements • Understand the critical importance of an emergency fund and have a plan to build yours
Remember, what gets measured gets improved! This session includes practical homework that will literally put your financial house in order and give you a solid foundation for future wealth building.
This video is part of a 10-week course called Financial Freedom Fast Track by Rebel Finance School. For access to the notes, spreadsheets, and more that accompany the course, please sign up here - http://www.rebelfinanceschool.com
Disclaimer: We are not financial advisers 💼 This is not financial advice 💰. We are not regulated. We are not trained financial advisors 🎓 We are never going to try and sell you any investments 🛍️ You make your decisions 💭 Sharing our opinions and ideas 💡 These ideas may not continue to work for us or for you. You are 100% responsible for your financial future 💸 There are no guarantees here. For our full disclaimer, please visit: https://rebeldonegans.com/about-us/disclaimers/
