HOME:
      Write down a reasonable estimate of the market value of your
      home. A local real estate agent can give you an estimate.

      SUGGESTION: Look at the costs of renting or owning your
      home including, heat, electricity, maintenance, property taxes
      and insurance, water, trash and sewer service.

      
OTHER PROPERTIES:
      Write down the market value of all other properties, including
      land buildings, business, partnerships, cash surrender value
      of insurance, etc.

      SUGGESTION: Look at the costs of owning and maintaining
      these properties.

      
PERSONAL POSSESSIONS: Write down an approximate value of all you personal
      possessions, including clothes, antiques, art, computers, VCRs,
      TVs etc. You can use the following ranges: $1,000 - $4,000; $5,000-$7,000;
      $8,000-$10,000 on up. You just need a good guess here.

      SUGGESTION: If you own any valuable possession, get them
      appraised and include them in your insurance policy. Get rid
      of unnecessary possessions. They just clutter your mind!

      
CARS/VEHICLES:
      Write down the market value of your car(s) or other vehicles(s).
      Note: You may want to get this estimate from your dealer.

      SUGGESTION: Compare the value to the outstanding balance
      on your car loan (if you have one).

      
4. Take a sub-total of your properties.

      
5. Take a total of your money and property.

      
MONEY OWED TO YOU:
      Write down all your debts.

      
BILLS:
      Write down any bills outstanding for more than thirty days. Note:
      Do not include credit card loans.

      SUGGESTION: Set a monthly routine for paying your bills.
      If you are unable to pay a bill, explain your situation to the
      party you owe and negotiate a lower payment if you can.

      
LOANS:
      (Owed to others) Write down any loans owed to others, including
      personal loans, credit card loans, business loans, second mortgages,
      etc.

      SUGGESTION: Make a list of your loans with showing the
      outstanding balance, the monthly loan payment, and the rate of
      interest. Then consider reducing, combining, or refinancing these
      loans.

      
MORTGAGE:
      Write down the outstanding balance on your mortgage.

      SUGGESTION: Look at the current mortgage interest rates
      and consider refinancing your mortgage if the rates are low enough.

      
6. Total your debts.

      
 

      
© 2000, Frederick
      S. Brown. All rights reserved.