Net worth is what would be left if you were to sell everything you own and pay what you owe. If you have a positive net worth, continue working to increase your net worth, but if you have a negative net worth, analyze your budget and plan how to increase it.
Make sure to re-calculate your net worth every month or so to keep up to date with your finances.
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"There's no money in poetry, but then there's no poetry in money, either." ~ Robert Graves
These are pretty basic but we would all be far ahead financially if we did a few of them.
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Your net worth gives an overview of your financial situation at this point. It is the difference between what you own and what you owe.
Your net worth is positive if your assets exceed your liabilities.
A negative net worth is when your liabilities are greater than your assets....
It can help you to determine when you are and how to get where you want to be.
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