21
Chapter 1: Assessing Where You Are Financially
Book I
Taking
Charge
of Your
Finances
Cataloging What You Own
When you know what your spending habits and your earnings are, you need
to get an equally firm grasp on what you own. Documenting your assets
Helps determine what property you may lose by filing bankruptcy.
Lets you know whether selling things could head off bankruptcy.
Demonstrates how little you have to show for credit card debt.
Use Table 1-2 to get a rough idea of what you own and how much it's worth.
Table 1-2
What You Own
Asset
Value
Real Property
Your home
Other real property
Timeshares
Motor Vehicles
Bank Account Balances
Household Goods
Furniture
Appliances
Audio and video equipment
Computers and accessories
Other household items
Art Objects and Collectibles
Jewelry
(continued)
