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How Is Net Worth Calculated

How Is Net Worth Calculated

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Answer the following in approximately 250 words:
a. How is net worth calculated?
First and foremost, it is very important to know what net worth is all about. In a very brief statement, your net worth is virtually everything you own statistically (your assets) minus what you owe in debts (your liabilities). Assets include money and investments, your home, real estate, cars you own. Debt are what you owe on those assets including car loans, mortgage, and student loan debt. Therefore, net worth can be calculated as:

Assets − debt = net worth or assets = debts + net worth.

b. What is the meaning of the statement that your net worth is the equity you have in your own life?
The difference between what you have and what you owe is your net worth.

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