Net Worth Calculator
Net Worth: $
What is my net worth?
Your net worth is the total value of your assets minus the total value of your liabilities. It represents your financial position and can be used as a measure of your financial health. To calculate your net worth, you would add up the value of all of your assets, such as your cash, investments, and property, and then subtract the total value of all of your liabilities, such as your mortgages, credit card debt, and loans.
What are assets and liabilities?
Assets are anything of value that you own, such as cash, investments, real estate, and personal property. They can include tangible items, such as a car or jewelry, as well as intangible items, such as intellectual property or a business. Assets can be liquid, meaning they can easily be converted to cash, or illiquid, meaning they cannot be easily converted to cash.
Liabilities are any debts or financial obligations that you owe to others, such as mortgages, credit card debt, student loans, and car loans. They can also include any unpaid bills or taxes. Liabilities are typically divided into two categories: secured and unsecured. Secured liabilities are debts that are backed by an asset, such as a mortgage that is backed by a house. Unsecured liabilities, on the other hand, are not backed by an asset and include credit card debt and personal loans.