Understand your net worth

Do you know how much you’re worth financially? Knowing your net worth can help you to better plan for your future and set savings goals. To calculate your net worth, add up the value of everything you own and subtract from that amount everything you owe. In other words, your assets minus your debt equals your net worth. It’s not complicated, although it may take you some time to gather all the information you’ll need to determine a final figure. Try the online net worth calculator at Investopedia.com. It’s easy to navigate and you can personalize the information by adding specific assets and liabilities. According to the site, “alculating your net worth helps you figure out where you are financially at this point in time. Expressed as a dollar amount, your net worth represents your financial health and is essentially the result of everything you have earned and spent up until now. While taking the time to calculate your net worth one time is helpful, what is really beneficial is to make this calculation on a regular basis so you can see trends in your overall financial health.” Of course, you want to see a positive number on your net worth