Net Worth
First off, what is Net Worth? Net Worth is simply what you own (assets) minus what you owe (liabilities).
Net Worth
=
Assets
–
Liabilities
If you want to learn how to manage your personal finances, it is crucial to understand the concept of Net Worth. While most people are only familiar with the income statement, which shows revenues & expenses, not everyone is familiar with the balance sheet. The balance sheet includes everything you own & everything you owe & leaves you with one thing, your Net Worth, or equity. The balance sheet & Net Worth are one and the same.
For a more detailed review of key terms & a basic overview of financial statements, check out the Financial Statements page. To calculate your net worth, check out our new Net Worth Calculator below.
Calculate Your Net Worth
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Assets
Cash & Cash Equivalents
Cash on Hand
Checking Account
Savings Account
Other
Investments
401(k)
403(b)
Traditional IRA
Roth IRA
Stocks
Bonds
Index Funds
Mutual Funds
Other
Property
Personal Residence
Rental Property
Automobile
Furniture
Art
Jewelry
Other
Liabilities
Liabilities
Personal Loans
Student Loans
Credit Card Debt
Rental Property Mortgage
Personal Residence Mortgage
Your Net Worth
0.00
Total Assets: 0.00
Total Liabilities: 0.00
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Net Worth
Assets
Liabilities