Net worth for an individual is defined as the total value of someone’s assets minus all their liabilities; hence when assets exceed liabilities it is considered to be that person’s net worth. Calculating your own net worth is something that is important if you want to track your improvement or your losses from year to year financially.
My recent experience in learning how to calculate my own current net worth was very easy to do, mainly due to the fact that I am a college student with hardly any assets and thankfully not too mainly liabilities either. I began the task of finding my own net worth by first searching Google for ways of calculating net worth. The search results from Google provided several websites that offered free online net calculation tools. I choose a website that guided me through the process of listing all possible assets (ex. stocks, bonds, cash etc.) that I would have, as well as all my liabilities (mortgages, credit cards, home-equity loan etc.) and then finally it produced a number that told me my net worth.
Even though I currently do not have really valuable assets of my own, I am not worried because I am still young and I am in progress to getting a college degree in Information Technology that I know will provide me with a strong base for a future career and many valued assets to enjoy and be proud of.
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