Tracking Your Net Worth

By Aaron Loh

Wealthy people understand the huge distinction between working income and net worth. Working income is important, but is only one of the four factors that determine your net worth. The four net worth factors are:

Income - working income and passive income Savings - if you don't keep any of your income, you will never create wealth Investments - from the money you saved, move to the next stage by investing it Simplification - simplify your lifestyle. What will it take for you to be happy financially?

Visit my blog (url below) to download your free net worth tracking sheet.

Most people know it's important to keep and organize all of your vital financial information. But knowing you should and knowing how are two different things!

Once you know the reasons for being very organized with your financial data (and keeping it all in a very safe place) I hope you will put organization on your net worth building to-do list (at or near the top).

You need to be able to see your financial strengths and weaknesses quickly. If you are an active investor, it's even more important that you do so. Time wasted on missing data and lost tracking information is money lost.

Also, keeping an accurate and up to date personal net worth statement (personal financial statement) can help you get loans or other financing more quickly.

It would be well worth the effort to be able to give your financial institutions information they need at a glance. And your needs for the same ability to query your net worth and data associated with accounts, investments, in and outgoing money, and other important data are very important.

Be sure and carefully consider all portions of your net worth. Often forgotten components of your net worth are listed below in a handy checklist to get your data system in order and on track.

• Cash on Hand and In Bank
• Notes Payable
• Marketable Securities
• Non-Marketable Securities
• Securities Held by Brokers
• Restricted or Control Stocks
• Partial Real Estate Interests
• Owned Real Estate
• Loans Receivable
• Life Insurance
• Other Assets
• Accounts Payable
• Amount Due to Brokers
• Unpaid Income
• Taxes
• Other Unpaid Taxes/Interest
• Other Debts
• Debt on Real Estate Equities

Real Estate MortgagesMake sure you know what you're really worth. The only way to calculate your net worth accurately is if you track everything above. On your road to a high net worth you can make fewer pit stops if you have a plan and the data to support your investment decisions and abilities close at hand.

Make use of spread sheet software and programs (i.e. Quicken) to keep your net growth on track. The reports you can run are invaluable for seeing where you’ve been and how far you’ve come with your portfolios, mortgage, taxes, and other important information.

Aaron LohFounder and Director of Wealth Learning Internationalhttp://www.aaronloh.com

The Blockbuster Benefits Of Selling Information On The Net

By Lewis Low

An entrepreneur on the Information Superhighway sells information, in fact, almost all successful online businesses sell information in some form or another. The most famous example is Bill Gates. He has become the one the richest man on Earth because he sells software, which is an information product.

So what’s the big deal in selling information products online? Let's check out some of the benefits in doing so -

1) Low Start-up Costs
In comparison to a traditional bricks and clicks business, an online business requires low start up costs. For example, a franchise will set you back as much as $500,000 or more just for the rights to get started. You can start your own information business for less than $1,000.

2) Low Inventory Costs
You keep little or no inventory. Most information products can be produced and compiled into electronic format. As you can see, today information products are ebooks, manuals, as well as software. You have no inventory cost except investing in some software in the first place. Compare that to a traditional publishing business which might cost you thousands of dollars just for printing, labor, storage, etc.

3) Zero Shipping Costs
Don't overlook the cost of shipping in a traditional business. Just imagine how much money you might lose if the order was returned due to credit card fraud, a customer request for a refund, or product damage during the course of shipping? On the other hand, the delivery of electronic information products is safe, it is instant, and it is online. The only costs you bear are for web hosting and insignificant credit card processing fees.

4) High Mark-Ups
Information products have a high mark-up because customers are not paying for the format in which the products are delivered. They are paying for the valuable information contained within. Actual production costs are irrelevant and can not be applied when dealing with these types of products.

5) Your Business Runs Entirely on Autopilot!
Your whole business can be set to run on autopilot, right from customer follow-ups, to taking orders, credit card processing, to products download, and delivery. The system runs 24/7, 100% automatically, while you work on other projects, or spend time on vacation with your family. That's really a dream business!

To kick start your online information selling business, you will need to have a set of your own high-demand products. You may want to create your very own product from scratch, or you can purchase resell rights to an existing product that already has demand. The latter will be a great option if you don't have the time or would rather save yourself the hassle of creating your own product from scratch.

In either case, be sure to do your own market research before attempting any course of action. This should prevent you from getting into buying or producing unwanted products or products without market.

Lewis Low is the founding editor of OnlineBizPromo.com. For more Practical Online Business Ideas and Work-From-Home Opportunities, visit his Work-At-Home directory at http://www.OnlineBizPromo.com