For the last few years I've been going out on the first day of the year and figuring out my net worth. I do this to see how it compares to the year before and also to see what areas I need to work on.
To figure out your net worth, add up the current value of all of your assets, then add up the current amount of all of your liabilities. Subtract your total liabilities from your total assets. The amount you end up with is your net worth. Assets can include cash, checking accounts, certificates of deposit (CDs), mutual funds, stocks, bonds, IRAs, 401(k) plans, automobiles, and real estate. Liabilities can include debt from credit cards, student loans, mortgages, home equity loans, 401(k) loans, and car loans.
So for example, if you only own a house and have a $300,000 loan but it's worth $320,000 than you have a $20,000 net worth.
This is a private poll and I'm not going to vote right away or you'll know what my net worth is :wideeyed:
To figure out your net worth, add up the current value of all of your assets, then add up the current amount of all of your liabilities. Subtract your total liabilities from your total assets. The amount you end up with is your net worth. Assets can include cash, checking accounts, certificates of deposit (CDs), mutual funds, stocks, bonds, IRAs, 401(k) plans, automobiles, and real estate. Liabilities can include debt from credit cards, student loans, mortgages, home equity loans, 401(k) loans, and car loans.
So for example, if you only own a house and have a $300,000 loan but it's worth $320,000 than you have a $20,000 net worth.
This is a private poll and I'm not going to vote right away or you'll know what my net worth is :wideeyed: