How To Figure Out Your Net Worth

I can’t believe I’ve never sat down and figured out our net worth before. I guess I just assumed that it was pointless. I wasn’t gaining anything buy learning how much I was worth. I was just going to waste a bunch of time for nothing.

Wrong!

Once I learned that our net worth was a pretty good number, I was actually really happy and excited. I’m glad that I did it. It probably only took about 30 minutes to figure it all out, too, which was much quicker than I thought it was going to be.

Here’s our net worth, since I’m not afraid of being open…

ASSETS:
Bank Accounts – $15,000.29
Stocks – $819.71
RRSP – $465.84
RESP – $845.07
Vehicles – $28,000
Personal Possessions – $5,090
= $50,220.91

LIABILITIES:
Richard’s Car – $6,338.48

ASSETS – LIABILITIES = $43,832.43

That means, of course, that our net worth is $43,832.43. I really did not expect it to be that high at all. We are very happy.

So what’s your net worth? It’s so easy to figure out. You simply subtract your liabilities from your assets.

Assets include vehicles, stocks, house value, bank accounts and more. There are plenty of net worth calculators online that can help you. I used this one.

  • Subscribe to our email list to receive a FREE video outlining my top 5 tips for saving money on groceries.
  • Your e-mail address
Comments
  1. Erin says:

    Wow that’s pretty impressive. Wait until you buy a house 😉

  2. admin says:

    ahh yes, then my liabilities will go way up! i suppose my assets will too though 😛

Leave a Comment

(required)

This post may contain affiliate links. Read our disclosure policy (here).