★ The Importance of Tracking Your Net Worth

"The reality of our money is that it’s always either increasing or decreasing, and we often make incorrect assumptions. Someone living with little income and low expenses but living paycheck-to-paycheck could think that they’re getting poorer, but they might forget that they’re steadily contributing to a 401K at work, causing their net worth to increase over time. However, a person who brings in $200,000 a year with an ever-growing credit card balance and owning pricey, gas guzzling cars might be steadily losing their net wealth over the long-term."