--- title: Day Two - Balance What You Own and Owe description: "The average net worth of a resident in UAE is $99000, while the global average is $87,489. \n\nLet's find out what is yours." image: https://www.financialplanningindubai.com/hubfs/30%20Days%20-%20Day%20Two-2-1.png --- [![Financial_Planning_in_Dubai_logo](https://www.financialplanningindubai.com/hs-fs/hubfs/Financial%20Planning%20in%20Dubai%20Logo_9090-2.png?width=90&height=90&name=Financial%20Planning%20in%20Dubai%20Logo_9090-2.png "Financial_Planning_in_Dubai_logo")](https://www.financialplanningindubai.com/?hsLang=en-gb) - [Home](https://financialplanningindubai.com/) - [Blog](https://www.financialplanningindubai.com/blog) - [Services](https://www.financialplanningindubai.com/services) - [Islamic Investments & Takaful Plans](https://www.financialplanningindubai.com/blog/salama-hyat-plus-takaful-plan) - [Medical Insurance](https://www.financialplanningindubai.com/blog/topic/medical-insurance) - [Free Resources](https://www.financialplanningindubai.com/free-finanical-tools) - Tools - Calculators - [S&P 500 Investment Calculator](https://financialplanningindubai.com/sp-500-investment-calculator/) - [Life Insurance Calculator](https://www.financialplanningindubai.com/life-insurance-calculator) - [SIP Calculator](https://financialplanningindubai.com/sip-calculator/) - [Lumpsum investment calculator](https://www.financialplanningindubai.com/lump-sum-investment-calculator) - [Inflation Calculator](https://www.financialplanningindubai.com/inflation-calculator-uae) - [Net-Worth Calculator](https://www.financialplanningindubai.com/blog/free-personal-balance-sheet-template-networth-statement) - [The Best Budget Planner for Expats](https://www.financialplanningindubai.com/expat-budget-planner) [Book A Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) Day Two - Balance What You Own and Owe 2:52 # Day Two - Balance What You Own and Owe ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) 9 Jan 2023, 09:56:55 ###### [30 Days Challenge](https://www.financialplanningindubai.com/blog/topic/30-days-challenge) Well done on completing Day 1! Was it easier than you expected? If you had any challenges, feel free to ask — that’s what the group is for. If you haven’t completed Day 1 yet, no worries. Just do it today and drop a **“Day 1 Done”** comment in our  [Facebook group](https://www.facebook.com/groups/688882309412548/) to stay on track. ![30 Days - Day Two-3-2](https://www.financialplanningindubai.com/hs-fs/hubfs/30%20Days%20-%20Day%20Two-3-2.png?width=740&height=400&name=30%20Days%20-%20Day%20Two-3-2.png) ## 💭 **Let’s Begin Day 2** Imagine a company with no accounts department. ❌ No profit & loss statement. ❌ No balance sheet. ❌ No tracking of assets or liabilities. But… 🚀 They have a great sales team, ⚙️ Strong operations, and 📢 Creative marketing. 🤔 Without numbers, how long do you think that company will last? ⏳ Not for long, I guess...   **Now flip the question — how different are you from that company?** Whether you're an employee, freelancer, or business owner, you're constantly trading your **time, skills, and energy for money**. So if companies need to track their finances, shouldn't you? ### 📊 **Today’s Task: Build Your Personal Balance Sheet** Yesterday, you prepared the income and expense statement and projected your cash flow for the whole year using the[EAB.](https://www.financialplanningindubai.com/expat-budget-planner?hsLang=en-gb) Today, we take the next step — Creating your **Personal Balance Sheet** to find your **Net Worth**. ### 💡 **What is a Net Worth?** It’s a snapshot of your current financial position. It answers two simple questions: 1. **What do you own?** (Assets) 2. **What do you owe?** (Liabilities) Your **net worth** = Total Assets – Total Liabilities It tells you if you’re **building wealth or building debt**. And over time, it shows whether you’re moving forward or standing still. ### 📐 **What’s in the Template?** The Net Worth Template has 3 sheets: - **Dashboard:** A read-only summary of your assets, liabilities, and net worth - **Assets:** Record everything you own — categorized under *Cash & Investments, Retirement, and Personal Assets* - **Liabilities:** Log what you owe — split into *Secured* (like mortgages) and *Unsecured* (like credit cards) Click [here](https://www.financialplanningindubai.com/hubfs/Networth%20Statement%20-%2030%20Days%20Challenge%20-%20Day%202.xlsx) to download the Personal balance sheet template. ### 📌 **Today’s Action Steps:** 1. Download the template 2. Fill in your assets and liabilities 3. See where you stand — calculate your net worth 4. Reflect: Is your wealth growing? Is debt holding you back? 5. Drop a **“Day 2 Done”** comment in the Facebook group 6. Share your insights or ask questions (optional but encouraged! 7. Go ahead and populate this template and share your experience with us on our [Facebook group](https://www.facebook.com/groups/688882309412548/). ### Where do you stand? The average net worth of a resident in UAE is $99000, while the global average is $87,489.  Let's find out what is yours. ### ⚠️ **Privacy Reminder** Your financial data is personal. Please don’t share screenshots or numbers publicly. Use the group to discuss your learnings — not your private details. ### 🏁 Final Thought > *Knowing your income is good.* > *Knowing your net worth is powerful.* Let’s move from monthly survival to long-term financial clarity. [**See you tomorrow for Day 3.**](https://www.financialplanningindubai.com/blog/ready-for-a-rainy-day?hsLang=en-gb)  [Click here to download the Personal balance sheet template.](https://www.financialplanningindubai.com/hubfs/Networth%20Statement%20-%2030%20Days%20Challenge%20-%20Day%202.xlsx) ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours... Share this article on [mailto:?subject=Check%20out%20Day%20Two%20-%20Balance%20What%20You%20Own%20and%20Owe%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/day-two-know-your-networth](mailto:?subject=Check%20out%20Day%20Two%20-%20Balance%20What%20You%20Own%20and%20Owe%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/day-two-know-your-networth) ##### Read more - [The Real C-Suite – The Only Title That Matters 🏆](https://www.financialplanningindubai.com/blog/breadwinner?hsLang=en-gb) - [The Wealth Secret 99% of Investors Ignore – Will You?](https://www.financialplanningindubai.com/blog/the-iceberg-of-investing?hsLang=en-gb) - [From Risk to Reward? The Shifting Case for China Investing](https://www.financialplanningindubai.com/blog/from-risk-to-reward-the-shifting-case-for-china-investing?hsLang=en-gb) ## Further Reading [![Investing lessons from Sir Bradman's Ducks](https://www.financialplanningindubai.com/hs-fs/hubfs/Imported_Blog_Media/0_bradmanduck_humour-1.jpg?width=300&name=0_bradmanduck_humour-1.jpg)](https://www.financialplanningindubai.com/blog/2016/04/24/investing?hsLang=en-gb) ###### [Financial Planning](https://www.financialplanningindubai.com/blog/topic/financial-planning) ##### [Investing lessons from Sir Bradman's Ducks](https://www.financialplanningindubai.com/blog/2016/04/24/investing?hsLang=en-gb) Sifr in Arabic, Anda in colloquial Hindi, Zero in English, and a Duck in the cricketing language... [Read More](https://www.financialplanningindubai.com/blog/2016/04/24/investing?hsLang=en-gb) [![What is stopping us from achieving our goals?](https://www.financialplanningindubai.com/hs-fs/hubfs/30-Days-Where%20we%20could%20be-2.png?width=300&name=30-Days-Where%20we%20could%20be-2.png)](https://www.financialplanningindubai.com/blog/30-days-2-where-we-could-be?hsLang=en-gb) ###### [30 Days Challenge,](https://www.financialplanningindubai.com/blog/topic/30-days-challenge)[Room for Improvement](https://www.financialplanningindubai.com/blog/topic/room-for-improvement) ##### [What is stopping us from achieving our goals?](https://www.financialplanningindubai.com/blog/30-days-2-where-we-could-be?hsLang=en-gb) The biggest room each one of us has is the room for improvement.  [Read More](https://www.financialplanningindubai.com/blog/30-days-2-where-we-could-be?hsLang=en-gb) [![Day - 9 - Spend Only Cash](https://www.financialplanningindubai.com/hs-fs/hubfs/Only%20Cash%20(740%20%C3%97%20400%20px)%20(350%20%C3%97%20250%20px)-3.png?width=300&name=Only%20Cash%20(740%20%C3%97%20400%20px)%20(350%20%C3%97%20250%20px)-3.png)](https://www.financialplanningindubai.com/blog/day-9-spend-only-cash?hsLang=en-gb) ###### [30 Days Challenge](https://www.financialplanningindubai.com/blog/topic/30-days-challenge) ##### [Day - 9 - Spend Only Cash](https://www.financialplanningindubai.com/blog/day-9-spend-only-cash?hsLang=en-gb) Today's task is simple but not easy. Welcome to Day 9 of the [Win with Money Challenge.](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge?hsLang=en-gb) [Read More](https://www.financialplanningindubai.com/blog/day-9-spend-only-cash?hsLang=en-gb) *Damodhar Mata | Your Trusted Financial Advisor in Dubai* ![Damodhar Mata-7-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Damodhar%20Mata-7-2.png?width=119&height=119&name=Damodhar%20Mata-7-2.png) *I can help you grow wealth, gain passive income, and achieve your goals faster and with ease. * **Top Pages** - [Home page](https://www.financialplanningindubai.com) - [Best Life Insurance](https://www.financialplanningindubai.com/best-life-insurance-dubai) - [Best Investment Plan](https://www.financialplanningindubai.com/blog/how-to-invest-in-uae) - [Retirement Planning in the UAE](https://www.financialplanningindubai.com/retirement-planning-in-uae) - [FIRE Early Retirement Guide](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Best Child Education Plan](https://www.financialplanningindubai.com/childrens-education-planning) **Top Blog Posts** - [Financial Planner or Financial Advisor?](https://www.financialplanningindubai.com/blog/financial-planner-or-financial-advisor) - [How to find the Best Financial Advisor](https://www.financialplanningindubai.com/blog/best-financial-advisor-uae) - [Win With Money Challenge](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge) - [FIRE guide for expats](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Pay Yourself First](https://www.financialplanningindubai.com/blog/how-expats-in-uae-can-grow-wealth-using-pay-yourself-first-strategy) - [Google Reviews](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) **Other pages** - [About us](https://www.financialplanningindubai.com/about-us) - [Testimonials](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) - [Services](https://www.financialplanningindubai.com/services) - [Contact us](https://www.financialplanningindubai.com/contact-us) --- © 2024 Financial Planning in Dubai. 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