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Money Buzz 05/02

Find out what you're worth, the progress of "going paperless" and more

This story appears in the May 2002 issue of Entrepreneur. Subscribe »

To stay in good shape, your finances need TLC. An assessment of your net worth is a good starting point, says Steve Garrett, an investment manager at St. Louis-based A.G. Edwards. "You need to take an initial reading so you can compare from year to year and uncover problems."

While the net worth equation--assets minus liabilities--sounds simple, you should avoid common mistakes such as overstating the value of a home. "You want to be conservative, not give yourself a false sense of security," says Garrett.

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