A most important element for building wealth is to measure it. The people I know that have continually increased their net worth track it in order to direct it and stay motivated to reach ever higher financial goals. Seeing the quantifiable results of your spending and investing decisions is the first step to take control of them. Contrarily, the people I know in the worst financial shape have no idea where there money is spent and are too afraid to know what their net worth might be because it wont be pretty. Which extreme more closely matches your attitude? As Dr. Deming says, You cant manage what you dont measure. Think of it: if you were seriously wealthy, youd spend some time every week managing some aspect of money. Well, if you want to improve your financial condition, a beginner version of a money management and tracking method is required. In addition, the more money you build up, the more financial assets and obligations there are to monitor. If you dont have your financial tracking in place before you acquire them, Id bet that you wont own them for long.
If you dont see and feel the gains and losses of your financial decisions you are playing the complicated...
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