Every month, you'll have money coming in and money going out. You need to keep track of every dollar spent and every dollar earned.
A personal balance sheet will help keep track as it gives you an overview of your assets, liabilities, and your net worth.
I've created a FREE template that starts you on your journey to being financially literate. This is not an end all be all template, but it will help you get started! As your assets grow, you'll find that you may want to create another template, or add to this template.
I love how this one page outlines all of your personal balances. It breaks down each category so you are able to itemize your assets and liabilities. Now I know what is considered assets and liabilities. WOW!!!