Basics of your financial life


How good are you with your finances? Do the basics completely elude you?

If so you need to start with simple concepts to help you gain control of your finances.

This article from CBNC lays things out nicely, as one financial adviser explains how two simple sheets of paper can help you understand your financial picture. One is a basic balance sheet of assets and liabilities, and the other is a simple cash-flow statement.

Go through this exercise and you’ll see clearly where you are now. You won’t gain control unless you can understand these basics. Start with the simple stuff!