Caleb Coker Fort is a professional realtor from Spartanburg, South Carolina. Caleb Coker Fort has year of experience in investment market. To avoid ending up as one of a long line of failed investors, take the time to learn the “must-knows” of your financial situation.
Know Your Net Worth
You need to know how much you are worth before you begin investing, as this will help you assess if the goal to invest is right for you at this time. Calculate the difference between your liabilities and your assets to determine your net worth, with or without the help of a professional. If your net worth isn’t as high as you would like, you might need to eliminate some liabilities before investing.
Know Your Cash Flow
Cash flow is what will allow you to invest your money. You need to know the amount by which your net income – that is, income after taxes – exceeds your expenses. If your cash flow is more like a trickle, you probably need to focus on lowering your expenses or finding new sources of revenue before you invest, or both.
Know Your Credit Scores
Your credit scores impact your financial future. It is important that you know what your score is from each credit reporting agency, and how you can improve the score.
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