Veterinary team: Do you know your net worth?

When you see your personal finances in black and white, you are forced to confront reality. Knowing your net worth can help you determine 1) where you are and 2) how to get to where you want to be. It can be encouraging to know that you're covered in the event of catastrophe. But it can also be alarming and scary if you realize you're not on track. No matter what, though, knowledge is power-and having a clearer idea of what's going on with your financial future will always be a wise investment.

If your net worth is a negative number:

Breathe deep, and starting paying down your debt. Our best advice? Whichever debt (be it credit card or loan) has the highest interest rate, pay an extra chunk of change to the minimum payment. Every $25 or $50 helps.

Then focus on building a (modest) cash cushion, so that if an emergency crops up, you don't have to whip out the credit card. Find more strategies for paying down debt here.

If your net worth is a positive number:

Whew! You're in a good place. Now keep it going by ...

>Asking for a raise. You may have read articles that note how women, in particular, eschew asking for raises on a regular basis throughout their careers. Don't be this person! Get raise negotiation advice here.

>Checking your net worth every 10-12 months. If your net worth starts declining, that can mean you're adding debt faster than you're building your assets.