This is an imprtant step in the financial planning process. It is difficult to plan for the future if

you do not know where you are starting from.

Make a list of everything that you (and your partner?) own, that has RESALE VALUE. If you could easily

sell it, count it. If you would need to take it to a charity shop to dispose of it, ignore it.

Assets might include: property (buildings or land), cash in the bank, shares in quoted companies, hard

assets (gold, silver or jewellery), unit trusts or mutual funds, shares in unquoted companies (a

family business perhaps), collectibles and bonds.

Now put an approximate value next to each item on the list that you just made. If you can make an

exact valuation (with stocks and shares, for example) that is great, if not, just try to use your

'best guess'.

You now need to make a list of any / all debts that you owe. This will be much easier to value

accurately, since you should be able to establish quite quickly how big your credit card balance, etc

really is.

Having created this second list, you are now left with two sets of numbers: assets and liabilities. By

deducting one from the other, you can see how much you are 'worth'.

Don't throw away this piece of paper. It will be rewarding to see your situation improve over time.
Calculate this figure once EVERY month. It helps to keep you motivated and focused on becoming worth a

little more each week and month.