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Your Money: Know how to calculate your annual net worth
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By Rachit Chawla
Your net worth is the total of your financial and non-financial assets, minus your total outstanding liabilities (mortgage, car loan, personal loan, home loan, business loan, credit card debt, etc.). In simpler words, it is the amount of money you would have, in cash, if you were to sell all your assets and pay off all your debts.
The net worth of an individual is the indicator of that person’s financial condition. Even though there is no predefined magical net worth number that you should be striving for, knowing how to calculate your net worth can help you keep track of your financial progress year by year.
Calculating your net worth isn’t a difficult process; all you need to do is gather all the information regarding your
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