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Ten Steps To Consider In The Event Of A Financial Crunch Or Crisis

Step 1. Create a Net Worth Statement and a Cash Flow Statement.

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Together, a net worth statement and a cash flow statement provide a snapshot of your finances - your assets, debts, income and expenses.

Creating a financial snapshot starts with gathering information. Getting this snapshot doesn't have to take a lot of time because ballpark numbers can be used. To learn what is needed, see: Financial Snapshot: Gathering The Information You Need To Create

For information about creating a cash flow statement, click here. For information about creating a net worth statement, click here.

NOTE: It's worth taking a few minutes to check to see if you are owed money, or if you have assets, you may have forgotten about. See How To Find Missing Money

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