E12: What Is Net Worth, and Why Should I Care?

This week we dive into the simple, yet often misunderstood topic of net worth. Many people have misconceptions about what exactly net worth is and how you calculate it. In this bite-size episode Mills sets the record straight by breaking down why net worth is important and how it can help individuals create an evolving roadmap for informed financial decisions, investments, or purchases. 

Topics Include:

• What Exactly is Net Worth?
• Defining Positive and Negative Net Worth
• Using Net Worth to Project a Snapshot of Your Financial Position
• How Net Worth Can Help One Determine if Their Debt is Manageable 
• Understanding the Difference Between Good and Bad Debt
• What Is Leverage and How Can It Be Best Applied? 
• How Net Worth Determines if Your Money Fits Your Lifestyle
• Why It's Not Always What You Own but Also What You Owe 

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