What is my net worth? How to find and calculate your net worth 2022

What is my net worth? How to find and calculate your net worth 2022

In simple words, net worth is assets minus liabilities. You can think of it as everything you own minus all that you owe.

Calculating your net worth requires you to take an inventory of what you own and all your debt.

The formula is Assets - LIiabilities = Net worth

Assets include cash in your checking, savings and retirement accounts along with cars, property and investments that you could sell for cash.

Liabilities include any money you owe to like credit card balances as well as personal, auto, payday and title loan balances.

If you’re using your home as an asset, its mortgage counts as a liability as well.

List all your assets, add them up, subtract the dollar value of your liabilities and you will find your net worth.