a. Assets – what do you currently have?
1. Long term: Bank accounts, investments, equity… etc.
2. Short term: Monthly revenues (salaries, payouts, dividends…)
b. Debts – What do you currently owe?
1. Long term: Mortgage, loans, leases…etc.
2. Short term: Monthly expenses (Bills, maintenance costs, living expenses, tax, insurance…)
c. This evaluation can be done on your own, or preferably with a financial advisor (more accurate).Note: if done with your Bank (financial advisor) you can also attain an exact amount for mortgage approval – then you really know what you’re working with!