How to Calculate Your Net Worth
The good news on calculating your net worth is, it is fairly easy to accomplish.
Here are the key steps to get the job done:
Gather all of your financial data. That process starts with collecting all your key financial data – all of your financial assets and all of your financial liabilities. That list should include investments, the value of your home, bank account totals, collectibles and valuables, and key possessions like your car and household possessions. On the debit side of the ledger, include your mortgage loan, student debt (if any), auto loan debt, and other key household liabilities.
List your total assets. Make a complete list of your total assets, with the largest assets listed first, followed by your next largest assets, and continue sequentially down to the last item at the bottom of your list. List the value of your assets in current dollars. If you’re having trouble estimating the value of big-ticket items like a home, Zillow.com can give you a thumbnail estimate. Kelley Blue Book offers the same service for cars, trucks and SUV’s.