e money net worth, or the total wealth of our lives, is an interesting concept. It’s a number that we use to compare our net worth, that is, our assets versus our liabilities, to a given time period. For example, if we look to determine how much money we have at the end of the year, we might look at the net worth of our household in the year we ended.
The purpose of e money net worth is to show us how much money we have in all our assets versus all our liabilities. A number like this is a useful thing to have in our toolbox because it shows us how much money we have, in all our assets, versus how much money we have in all our liabilities.
You can also look up the net worth of a specific household, like we do on our personal and family members’ assets. For example, if you’re a couple, you might look up the net worth of your son’s two kids (though not on his father, whom you might find on the internet), or your husband’s wife’s third husband’s wife’s third wife’s husband’s fourth husband.
A couple with three children will have a lot bigger bank account than a couple with only one child. A couple with five children has a much smaller account. A couple with six children has a smaller account than a couple with only two children.
Like you said, every couple has more assets than a couple with just one child. And that doesn’t mean that they can’t have one little kid. But, instead of one little kid being as important as the other little kids, the couple with only one child will likely have more assets than a couple with a bunch of kids.
While in the past you could look at the numbers and just go, “Oh, these people have enough money.” I think that’s how much the typical person would think of a couple with money so small they barely have any.
The fact is that the typical person would probably be wrong. Its because money that is too small for a child is usually even smaller than money that is too big for a child. Even if you get a child to be a good parent, it might still be a bad idea because as a parent you know how to spend the money. Because money that is too big for a child can be spent to the detriment of the child, even if the child is a good parent.
Money that is too small for a child is too small for many reasons. For a child that’s the first thing that can hurt the child. If a baby comes into the world with about $5,000 in cash, the likelihood it will grow up to be a nice person is like a thousand to one. But all of the other things that are associated with money can hurt the child.
A friend of mine recently came to me with her 3-month old daughter. The mother was a single mom with a child that was very attached to her. She was getting $500 a month with her child, and that was a very big chunk of money. As I explained this to my friend, I could feel the fear in her eyes. She was afraid of having to go out to the store and spend any of that money.
Money is a very important factor in a child’s life. If you have a child that is very attached to money, you know that they’ll be able to go to school without being afraid of a teacher saying no. If they don’t have enough money for school, then they’ll go to church instead and that will be very hard.