INFOGRAPHIC: What’s My Net Worth? 📷4 min
Many people think that being wealthy means you have a lot of stuff; however, it turns out that what you own is only part of the equation for determining your net worth. Review this infographic to see how wealth or net worth (often used as synonyms) is calculated. Then answer the questions below.
Your friends and you notice a neighbor who always has brand new clothes, shoes, and electronics. What would you need to know in order to tell if this neighbor is actually wealthy?
Your friends and you notice a neighbor who always has brand new clothes, shoes, and electronics. What would you need to know in order to tell if this neighbor is actually wealthy?
There’s not one target net worth value that is universally considered to be “rich” or “wealthy.” But right now, Sanya’s net worth is $12,000. Her goal is to have a net worth of at least $100,000 before she turns 35.
Explain one way that using credit could help Sanya achieve her goal.
Explain one way that using credit could hurt Sanya’s progress.