how do u calculate your net worth and your assets?

[Lifer]

what's the difference between the 2?

 

[maziwanka]

net worth takes into account any debt you might have.

 

[labrat25]

rough guess...

net worth = total of money you have available (debts owed to you, money you have, value of everything you own, etc) - total of everything you owe (debts)

assets = value of everything you own

 

[fastz28]

In the simplest form:

your bank accounts (assets) - your credit card bills = your net worth.

 

[GasX]

net worth calculator

Simple formula: Assets - Liabilities

 

[blakeatwork]

Originally posted by: fastz28
In the simplest form:

your bank accounts (assets) - your credit card bills = your net worth.

That would be your liquidity...

Net worth, as said, is the sum of all assets minus debts..

 

[mflacy]

Yodlee.com

 

[Lifer]

so u can have a negative net worth but not negative assets?

 

[GasX]

Originally posted by: Lifer
so u can have a negative net worth but not negative assets?

correct.

By definition, assets are things with (positive) value.

Just to clarify, let's say you are upside down on your car loan, e.g. you owe $11,000 on a car worth $10,000

Assets: 1 car $10,000
Liabilities: 1 car loan -$11,000

Net Worth: -$1000