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City of Austin Personal Net Worth Statement Form

City of Austin Personal Net Worth Statement Form

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how to calculate and monitor your net worth periodically monitoring your net worth is a good way to get a quick snapshot as to whether or not you are improving your financial situation over time your net worth is simply what you own minus what you owe what you own are your assets and what you owe are your liabilities we'll start with a simple example before we dig a Little Deeper let's suppose Jeremy wants to calculate his net worth he'll start by listing all his assets he has a $300,000 home a $20,000 car $5,000 in a checking account and $115,000 in his taxfree savings account adding up all his assets what he owns comes to $340,000 next he'll list all his liabilities he has a $200,000 balance remaining on his mortgage his car loan has a balance of1 15,00 000 he carries $33,000 on his credit cards from month to month and he has a student loan of $277,000 adding up all his liabilities what he owes comes to $245,000 now when we take what he owns $340,000 a

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