As you are working on the budget that you plan to use for your new apartment, you need to consider a few different factors. You have probably already worked with things like income to help you know a starting point for your money and what you are allowed to spend in the month to get ahead. But you also need to consider your net worth to figure out how you are doing when it comes to some of your debts. But one question that you may need to ask is what the difference is between your income and your net worth.

These are going to be similar kinds of terms, but they do go after something different each time. Your biggest wealth-building tool is going to be your income. You will not get very far without that there, but it is important to realize that your income is just part of the financial picture. Your income is how you make money, but when we talk about your net worth, it is going to measure your actual level of wealth. This can provide you with a more accurate picture of your overall financial health.

So, even if you earn that great promotion, complete with all the extras and a big pay raise, it is possible that you have a low, or negative, net worth if there is a lot of debt that you need to pay off first. It is possible to have a low income and high net worth and a high income and low net worth. This is why you need to take a look at both of them to get a better idea of your financial pictures.

If you notice that your net worth is not as high as you would like, then it may be time to make some changes. Looking into some of the different components of it, like how to pay down some of your debts and improve your income so that you can put more aside each month can be good places to start.

It is time to come take a look at some of our apartments for rent in Olympia to see why they are the perfect place for you to call home. We have worked hard to provide some amazing apartments for all your needs, carefully choosing the location, which amenities we are going to offer, and so much more. You will love the safe and secure community and the comfort that you feel the moment you walk in the door. When you are ready to move into one of our units and make it your new home, contact us today to get started.