Net Worth Calculator
Calculate your net worth by subtracting liabilities from assets.
Calculate Your Net Worth
Your Results:
Enter your details to see results.
How to Use This Calculator
This calculator helps you calculate your net worth by subtracting liabilities from assets. Follow these steps:
- Step 1: Enter your total assets (e.g., $150,000).
- Step 2: Input your total liabilities (e.g., $50,000).
- Step 3: Click "Calculate" to see your results.
Use this tool to assess your financial health and identify areas for improvement. It’s especially helpful for tracking progress toward financial goals like debt reduction or wealth-building.
Frequently Asked Questions (FAQs)
Q1: What is considered an asset?
Assets include anything of value that you own, such as cash, investments, real estate, vehicles, and personal property.
Q2: What is considered a liability?
Liabilities include debts or obligations you owe, such as credit card balances, loans, mortgages, and unpaid bills.
Q3: How often should I calculate my net worth?
It’s a good idea to calculate your net worth annually or whenever you experience significant financial changes, such as buying a home, paying off debt, or receiving an inheritance.
Q4: What does a negative net worth mean?
A negative net worth indicates that your liabilities exceed your assets. Focus on reducing debt and increasing savings to improve your financial situation.
Q5: Can I track my net worth over time?
Yes, regularly calculating your net worth allows you to monitor your financial progress and make adjustments as needed.