In this day and age of lost income, job transitions, and for some a complete change of life, we sometimes get caught up in the frenzy of everyday life and one day look to see that we ask ourselves that question.
I know in writing this article I may find you in one of the worst conditions in your life.
I have seen people's lives completely turned upside down as well as their business.
Besides the emotional stress that money can cause, you first have to get a grip on the reality of your situation.
First of all, take a deep breath and sit quietly alone and know that the world is not coming to an end, nor your life.
This may mean that you need to reassess what you want in life.
We all have to do this so I suggest that you think about what you want in life and then pursue it with all your heart.
But that isn't all that this article is about.
It is time we assess our worth financially as well.
It's best to see yourself as someone you want to help and approach this time of evaluation seriously.
Firstly, what is your worth financially? Assets Let's first look at what you have to be thankful for.
First, and I hope you do, you have your health.
Even if you have an illness you are still alive to read this article so there is always something you can be thankful for.
In fiscal bookkeeping, assets are investment assets.
Anything unmistakable or impalpable that is equipped for being possessed or regulated to prepare esteem and that is expected to remember have positive monetary quality is thought about a holding.
Essentially stated, assets act for quality of possession that might be changed over into money.
What do you have that can be turned into money? It's not that you would do this right away, but it is good to know what you have so you know where you are going.
This will encourage you before we go to the next, but important step, liabilities.
Liabilities A liability is demarcated as a commitment of an element going out from past transactions or occasions, the settlement of which may bring about the exchange or utilization of stakes, procurement of aids or other yielding of investment profits sometime to come.
A risk is characterized by these attributes.
In plain English it is what you owe.
Before you get overwhelmed just know that this is the beginning of the new you so you have to face the past.
It can only get better from here.
Now, set you assets and liabilities next to each other and see how they balance out.
You are looking at what some call in its simplest form a balance sheet.
You can see what you have and what you owe before you.
Now comes the part where you can have the dream of your new life meet the reality of the present.
Take a good look at your balance sheet as if you are a friend helping another friend jump start their own life.
Tell yourself as you look at your balance sheet that this was the past.
Now, what can you do to shape a new future and yourself and your world.
What assets do you have that can be used to help you achieve your goals to bring down your liabilities? I know to some this may seem like going back to basics but sometimes we let our lives get so complicated, we forget what we are here for in the first place.
In the same way that you have to look at your finances realistically, you should also evaluate your emotional life's assets and liabilities and find ways to change them to work with what you really want to do in your life.
We all go through periods in our lives that need adjustment both emotionally and financially.
I hope this article encourages you to explore the world around you and see that there is hope in an economically challenged society.