Isn’t there an app for this?

I’m gonna be honest. I have no interest (oh, look, a pun!) in learning about the world of finance. The words “stock” and “market” when used together cause my eyes to glaze over like a Christmas ham.

Discovering exactly what CDs and hedge funds are doesn’t do it for me, but using my amazing powers of “no duh” I’m guessing they have nothing to do with music and gardening, respectfully.

Unfortunately, I realize the saying, “A fool and his money are soon parted” is very much true. And if I’m ever called a “fool” I’d rather it be in reference to my mad dancing skills and not because I used my savings account to buy shoes I saw on an episode of “Sex and the City.” *

So here we are – me and Universal Class – learning the crazy world of personal finance. Over the past several weeks, I’ve learned the difference between gross earnings and net worth. Yeah, that was painful and depressing, but it’s a necessary pain – finding out where you stand financially is the first step to getting where you want to be in the future.

So let me break it down for you: your gross earnings are your income before taxes and deductions; your net worth is your financial value after adding all assets and subtracting all debt.

To figure your own net worth, add the value of the assets you own, including but not limited to cash, securities, personal property, real estate, and retirement accounts, and subtract your debt.

Hopefully, you come out with a positive number… But if your debt is more than your assets, you have a negative net worth. Wow, negative worth? That’s just harsh. But if you find yourself facing this situation there are countless books, courses and professionals that can help you set up a plan to turn your negative net worth into a positive. You can even sign up for the very class I’m writing about: personal finance 101.

Want to do more than read about our experiences with Universal Class? Sign up for your own class! Universal Class offers hundreds of classes on a wide variety of subjects – all for free! It’s easy to sign up – simply search for Universal Class on our database page & follow the instructions. As always, call us or stop by the library for a visit and we’ll be happy to help!

*Like I’m gonna tell you if that’s true or not.

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