You can’t get where you’re going if you don’t know where you are. In order to accomplish your long-term financial goals, like saving up for travel, a home, or starting your own business, you should sit down and assess your net worth.

Add up your savings and investments. Subtract your loans and debts. By the by, gadgets and cars are not investments, and your Magic the Gathering trading card collection only counts as an asset if you’re really willing to sell it off to do something like making your down payment.

Pretty basic stuff, but in the hurly burly of the everyday life it’s easy to forget to take a breather and assess where you stand.

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.