Net Worth

Do you know your net worth? It’s an accounting term meaning the dollar amount you would have if you subtracted everything you owe from the value of everything you own. For example, if the value of all your possessions is $100,000 and your mortgage and other loans total $40,000, you have a net worth of $60,000.

I suggest you track your net worth by recording it each month. This gives a solid indication of which direction you are heading financially and serves as a good measure of your financial progress.

But there is another net worth that is less easy to measure. It is your experiential net worth. That is the sum total of life experiences you have accumulated thus far. We grow this net worth by investing in others, doing good works in the name of Jesus, and creating meaningful memories with those God brings our way.

Both net worths are important, but building experiential net worth is often the better way to redeem the time.

Rick Grubbs is best known as the host of “Redeeming the Time,” a one-minute radio program featured on hundreds of radio outlets around the world. He has spoken thousands of times on Biblical time management in all 50 states and 26 other countries. He is the author of the book “Morning Momentum: God’s plan for launching an unstoppable day”. He and his wife Carrie live in Salisbury NC with several of their 12 children.

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