Net Worth

Do you know your net worth?
To put in simple term it means what you own (assets) less what you owe (liabilities). Let's take a look at the following example:


ASSETS

Cash

Current account 6,000.00
Savings account 500.00
Fixed deposit 15,000.00

Total Cash 21,500.00

Personal Assets

House 100,000.00
Car 40,000.00

Total Personal Assets 140,000.00

Investment

Shares 25,000.00
Unit Trusts 15,000.00

Total Investment 40,000.00


TOTAL ASSETS 201,500.00


LIABILITIES

Housing loan balance 50,000.00
Car loan balance 15,000.00


TOTAL LIABILITIES 65,000.00



*NET WORTH 136,500.00

*(201,500.00-65,000.00)


It would be a good idea to check your net worth at the end of every year.
Celebrate when your net worth is better than the previous year. You are richer!