6 Personal Finance Metrics You Can’t Afford Not to Track
Everyone wants to achieve financial success, but how do you know which personal finance metrics to track?
If you want to be
more purposeful in achieving financial success,
these are the financial metrics you need to pay attention to.
Personal Finance Metric #1: Income
We’ll start out with the most basic personal finance metric that you probably already know. How much money are you bringing in every month?
One of the easiest ways to decrease your expenses is just to start tracking them and see where your money is going.
Personal Finance Metric #2: Expenses
If you’re already tracking your income and expenses, your savings rate is easy to measure.
Personal Finance Metric #3: Savings Rate
If there was only one personal finance metric I could track, I would choose net worth above all others.
Personal Finance Metric #4: Net Worth
Personal Finance Metric #5: Passive Income
Passive income is just money coming in the door that you don’t have to work for. Usually, passive income is the result of your money working for you.
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