Knowing where you stand financially is equally important and critical to making other financial decisions.
Creating a simple balance sheet itemizing your assets and liabilities will give you the answer.
On the left side, list all your assets in detail: Investments, bank accounts, savings, home value, etc.
On the right side, list all your liabilities: mortgages, auto and school loans, credit card debt, etc. Now, add up all your assets and subtract your liabilities. Voila 'Net Worth'.
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