Seven money goals for young adults

In your 20s or 30s? Here are seven money goals you should make and meet.

7. Know your net worth

Michael Conroy/AP/File
An "Under Contract" sign is posted outside a home in Carmel, Ind. in 2013. Net worth – a combination of your total assets, such as a house, minus any debts you owe – is important to calculate in order to have sound finances.

The definition of net worth is simply the combination of your total assets minus any debts you owe. This figure will be your total net worth value, which could either be positive or negative depending on whether or not you have a lot of debt (say, from student loans) or a good amount of assets (like, savings or investment accounts).

If you don't know your current net worth, do a simple calculation today. Then keep updating this figure (using a spreadsheet or other net worth tracker) every quarter so you stay up-to-date on your overall financial situation.

This article first appeared on Wise Bread.

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Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

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