Net Worth Calculator
Track your financial health by calculating your net worth. Add up your assets and subtract your liabilities to see where you stand.
Net Worth Calculator
Assets
Liabilities
Understanding Net Worth
What is Net Worth?
Your net worth is the total value of your assets minus your liabilities. It provides a snapshot of your financial health and helps you:
- Track your overall financial progress
- Make informed financial decisions
- Plan for retirement
- Identify areas for improvement
Key Components
The calculator considers two main categories:
- Assets: What you own
- Cash and bank accounts
- Investments and retirement accounts
- Real estate and property
- Vehicles and valuable possessions
- Business ownership
- Liabilities: What you owe
- Mortgages
- Car loans
- Student loans
- Credit card debt
- Personal and business loans
The Formula
Net worth is calculated using a simple formula:
Net Worth = Total Assets - Total Liabilities
Frequently Asked Questions
How often should I calculate my net worth?
It's recommended to calculate your net worth quarterly or at least annually. Regular tracking helps you understand trends in your financial health and make adjustments as needed.
Should I include personal possessions in my assets?
Focus on significant items that hold substantial value. While you can include jewelry, art, or collectibles, everyday items like furniture typically aren't included unless they're valuable antiques.
What if my net worth is negative?
A negative net worth isn't uncommon, especially early in your career or with student loans. Focus on reducing debt and building assets over time. Track your progress to ensure you're moving in the right direction.
How do I value my home or business?
For homes, use recent appraisals or comparable sales in your area. For businesses, consider recent valuations, revenue multiples, or consult with a financial advisor for accurate assessment.
Download Now & Start Your Savings!
