Access the Adventure Capital Financial Snapshot here and fill it out.
Don't worry about being 100% accurate as even directional guidance will be useful.
1. In the first column, enter your current assets (any items you own that have value - your car, house, savings accounts, stocks, etc.).
2. Next, list out your debts (any place you owe money - your student loans, credit cards, that bet you lost to grandpa, etc.). This should match the open accounts you have listed on your credit report we pulled from CreditKarma.com (previous lecture).
3. After that, your Net Worth will be auto-calculated. This is a simple calculation of assets - debts. Because your debts are likely higher than your assets, this number is likely negative. Don't worry, we'll get you to a positive number soon :-)
4. The fourth step is entering your Credit Score from the previous lecture. Just pick any number from either reporting agency (Equifax or Transunion). Mark which agency you use so you can stay consistent when you update this next time.
5. Lastly, enter your Current Income. This is your current gross (pre-tax) income. (what you tell people you make, not what actually hits your checking account).
We'll be updating this every month so put a calendar reminder on the 1st of every month to duplicate the snapshot tab, update the month, and update these numbers.