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  1. #1
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    Calculating your net worth

    What’s the point of knowing your net worth? Why not know it? It’s another piece of your financial pie. The more you know about your financial status, the clearer your saving and investing goals can become. Calculating your net worth will take at least 30 minutes. Here’s an example of how to do it. (Round all figures to the nearest dollar.)

    ASSETS:
    Cash in checking and savings accounts: $21,000
    Stocks: $1,230
    RRSP: $622
    RESP: $962
    Vehicle (paid-off): $10,500
    Personal Possessions: $12,000
    __________________________
    $46,314
    LIABILITIES:
    Vehicle: $7,030
    Loans: $15,500
    Credit card debt: $2,600
    __________________________
    $21,184

    ASSETS – LIABILITIES = $25,130
    This hypothetical person has pretty simple assets and liabilities, showing a net worth of $25,130. Your financials may be a bit more complex, but this example shows how to tally your net worth.
    Assets can include vehicles (if you own them outright, find the value left on the car if you sold it today), stocks, home (if you own it outright; otherwise, take what the house is worth and subtract the amount you owe on the note), cash in checking and savings accounts, and more. You can also find online “net worth calculators” for help

    Heres one from CNN
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  2. #2
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    Quote Originally Posted by Tech_gurl View Post
    Calculating your net worth

    What’s the point of knowing your net worth? Why not know it? It’s another piece of your financial pie. The more you know about your financial status, the clearer your saving and investing goals can become. Calculating your net worth will take at least 30 minutes. Here’s an example of how to do it. (Round all figures to the nearest dollar.)
    Thanks. This is very helpful.

  3. #3
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    If it would about vehicle financing there are much better vehicle payment calculator present online. As you know all are not friendly with maths, it will surely complicate people like me.

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