So the other day I was taking a break during work and decided to Google the meaning of net worth, and how to calculate it. Yes, I know what it is and how to calculate it but it's always interesting for me to see if there are any new insights or tips/differences when it comes to finances (you don't get nicknamed 'miser' at a young age, without a good reason).
Anyway, something that struck me in an article was:
Again, obvious. I know. But seeing it written out like that spoke to me in a different way. In my industry, we're always look at the rate of return and how much return; when we advise on an investment to our clients, we're always looking at how best to maximize their value. I don't think I'm as aware of my own money when it comes to shopping. Yes, I am relating this to shopping because I take care of my other financial matters, very well.
Not that I blow hundreds of thousands away on shopping every year, but it spoke to my closet. My goal after all is to be buying things that add value ('assets') to my lifestyle (my 'net worth') whether it be functional or fashionable, and I'm working on eliminating pieces that don't work for me and avoiding buying unnecessary things - liabilities! (which are also financial liabilities in the long run if I'm just wasting money).
This is completely a language that speaks to me where I can put myself into that mindset and be objective when it comes to buying/not buying, and purging/keeping.