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Determine what you owe and your joint net worth


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Your combined assets are only one part of your financial picture. You must also determine your debts. Doing so will allow you to determine your joint net worth and provide a “right now” picture of your financial health.

The following resources may assist you in determining what you owe and your joint net worth:

Breaking the Ice

Debt Tracker Spreadsheet

Calculate Your Net Worth

Balance Sheets for Newlyweds

Yours, Mine, and Ours

Understanding Your Balance Sheet

Creating a Personal Balance Sheet


Blending Two Lives Tasks

1. Creating a joint spending plan
2. Building shared credit access and usage
3. Managing dual careers
4. Protecting your income with life insurance
5. Estate planning

Creating a joint spending plan Subtasks:

1. Determine what you own separately and together
2. Determine what you owe and your joint net worth
3. Determine your income and expenses
4. Develop a spending plan
5. Decide how you will manage your day-to-day finances

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