Resources for Savers
Calculate Your Net Worth
Financial security is part of the American dream. It's a worthwhile
goal, but how do you know if the goal is being met? Do you wonder if your
hard work is paying off? Are you better off than you were last year?
The best way to monitor your financial growth is with a net worth statement,
sometimes called a financial statement or balance sheet. A net worth
statement is like a picture of your overall financial condition at a given time.
List all assets, deduct all liabilities, and you have net worth.
Regular, periodic net worth statements can show financial changes over time.
This helps you see financial growth or decline. Net worth should be
calculated at least once a year.
The Net Worth Excel spreadsheet can be used as a template to create your own
individual net worth statement.
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