Flourish Health & Wellbeing Magazine - Mar 24 - Flipbook - Page 74
Here’s an example:
LIABILITIES
ASSETS
Home
Bank Accounts
$650,000
Home Loan
$485,000
$5,000
Credit Card
$0
Investment Property
$0
Investment Property Loan
$0
Share Por琀昀olio
$0
Personal Loan
$0
Other Investments
$0
Car Loan
$5,000
Car
$15,000
HELP Debt
Home Contents
* $5,000
Buy-Now-Pay-Later
$0
Pay Day Loans
$0
Other Debts
$0
Other Assets
Superannua琀椀on
Total Assets
$0
$75,000
$750,000
* This should be the ‘昀椀re sale value’, not the insured value.
If you have a garage sale and included everything in your
home, what do you think you could sell it for? That’s the
昀椀re sale value.
Total Liabili琀椀es
$30,000
$520,000
Net worth = Total Assets - Total Liabili琀椀es
Net worth = $750,000 - $520,000
Net worth = $230,000
How did you score?
0 – 2: NEEDS ATTENTION
It’s 琀椀me to start taking your
昀椀nancial 昀椀tness more seriously.
Consider reaching out to a
昀椀nancial counsellor.
3 – 7: OK
Now you know what you need to
work on to improve your 昀椀nancial
昀椀tness. If you’re a昀琀er a helping
hand, consider speaking to a
昀椀nancial coach.
8 – 10: WELL DONE
Wow, great work! Looks like you
might be ready to engage with a
昀椀nancial adviser to take things to
the next level.
This informa琀椀on is for general purposes only and not
designed to replace 昀椀nancial expert advice. Always
seek the advice of a quali昀椀ed 昀椀nancial specialist.