Your net worth is one of the most important aspects of your financial picture. Your net worth is simply the difference between what you own and what you owe.
To calculate your net worth, start by adding up all of your assets, which includes money in your bank and investment accounts and physical assets like your home. Next, add up all of your debts. Subtract your debts from your assets, and you get your net worth.
It’s okay if your net worth isn’t where you want it to be right now. Many younger people have a negative net worth as a result of student loans. The goal is simply to watch your net worth increase over time as you save money and pay off debt.
What is your net worth? Where would you like it to be?