Net Worth Calculator – Personal Balance Sheet

Use this net worth calculator to show where you stand financially. Net worth is defined as the total of your assets (everything you own) minus your liabilities (everything you owe).

Whereas an income and expense statement shows your cash flows, the net worth statement or balance sheet shows your assets.

Starting at the top and working your way down, complete the totals for each of the six sections.

Security Note: This calculator operates in your browser (unlike competing calculators that store private info on servers). With this calculator the information you enter never leaves your browser on your personal computer thus protecting your privacy.

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Your Name Enter date to display on report
Assets Liabilities
Liquid Assets Short-Term
Cash (checking & savings accounts) Credit Cards
Short-Term Investments Car Loan
Treasury Bills Construction Liens/Notes/Balances Due
Savings Certificates Loan on Life Insurance
Money Market Funds Installment Loans
Cash Value of Life Insurance Accrued Income Taxes
Other Other Debt
Total Liquid Assets Total Short-Term Liabilities
Investment Assets Long-Term
Notes Receivable Loans to Purchase Personal Assets
Marketable Securities Loan to Acquire Business
Securities Mortgage on Personal Residence(s)
Bonds Note to Business
Real Estate (investment) Other
Tax Incentive Investments Other
Retirement Funds Other
Total Investment Assets Total Long-Term Liabilities
Personal Assets Contingent Liabilities
Residence Endorser
Vacation Property Guarantor (SBA Loan)
Art, Antiques Damage Claims
Furnishings Taxes
Vehicles Other
Other Other
Total Personal Assets Total Contingent Liabilities
Total Assets Total Liabilities
Net Worth


How To Calculate Your Net Worth

The best way to track your financial progress is to calculate your net worth annually.

However, there are many factors to consider when figuring out your net worth.

It’s important that you produce a consistent result so that you get an accurate reading.

This Net Worth Calculator removes the guesswork and provides a comprehensive list of assets and liabilities to ensure you calculate an accurate net worth every time.

Below we’ll explore the net worth calculation in greater detail so that you can use it to your advantage.

Net Worth

A net worth statement is simply a personal balance sheet. It shows where you stand financially.

It provides a summary of your assets minus your liabilities.

In other words, your personal net worth is calculated by listing all that you own, and then subtracting all that you owe to get a net number.

The first step in calculating your net worth is to gather all the necessary financial documents, which includes your recent bank and loan statements. Once you have the required information, start the calculation by listing all of your assets with their values.

The calculator will then add together all your assets to get your total assets number. Your goal should be to continually increase those assets every year so you can reach your financial goals.

Assets you should include in the calculator include the following:

  • Cash on hand and cash in bank (checking and savings)
  • Mutual funds, treasury bills, cash value of life insurance, stock securities and other investments
  • Market value of your real estate
  • Automobiles (the resale value of your cars)
  • Personal property value (resale value of jewelry, gold, furniture and other household items, etc.)
  • Other assets

You should not include an inheritance that you have not received yet. A lot of things can change between now and then so only count your assets on hand – not planned assets for the future.

The next step to calculating net worth is to subtract your liabilities from the total assets calculated above.

Liabilities are defined as everything you owe. Include all debts such as your mortgage, auto loan, and credit card balances.

The net total figure remaining at the end of the calculation is your personal net worth (or personal balance sheet) and provides a snapshot in time showing how rich or poor you are today.

This figure may be small, large, or even a negative number; however, the important issue is that now you know more about your financial picture now and can take steps to improve it.

You can only improve that which you measure and track.

3 Common Mistakes To Avoid When Using A Net Worth Calculator

Whenever you calculate net worth, it’s critically important to measure both assets and liabilities.

A common mistake is to forget to net out the liabilities thus showing only assets. This inflates your financial picture. Net worth is correctly calculated by subtracting liabilities from your assets to show a complete, personal balance sheet.

Another common mistake that makes your net worth calculation inaccurate is not including all relevant data. One advantage to this calculator is it prompts you for the various items that should be included so that you don’t leave anything out. This increases accuracy and consistency.

Finally, if your calculation shows a negative net worth try not to get too frustrated. You’re not alone.

Yes, it does mean you owe more than you own, which can be frustrating. But don’t allow that frustration to keep you from completing the net worth calculation in future years and continue tracking your progress annually.

It’s an important exercise to your financial progress as explained below . . . .

Why Calculate A Net Worth Statement?

It’s important to calculate net worth every year because you can only improve what you measure and track.

Using this balance sheet template and calculating net worth every year gives you a running snapshot of how your financial picture is improving over time.

Below are some of the benefits:

  • Net worth gives you a clear picture of your financial well-being so you can make better informed decisions.
  • Calculating your personal net worth is the best way to know exactly what your starting point is and how far you need to travel to reach your long-term financial goals.
  • Growing and tracking a positive net worth not only keeps you on a positive financial course, but it can also help you qualify for loans and more attractive credit terms.
  • Setting financial goals and identifying problem areas is much easier when you know what your current net worth is.

How To Increase Your Net Worth

It’s simple. You increase net worth by reducing your debt and/or increasing your assets.

Dollar for dollar, reducing debt and increasing assets has an equal impact on your net worth making both equally important.

However, reducing liabilities is limited since you can only go to zero; whereas, increasing assets is unlimited. There is no upper boundary to how much you can grow the asset side of the equation.

Thus, it’s valuable to pay attention to both, but focus on the asset column for maximum wealth growth. Besides, that’s where all the fun is.

Final Thoughts

Determining your net worth is more than just knowing how much you have. It’s also an indicator of your financial health showing if your assets are increasing over time and at what rate.

You have important financial goals to achieve such as owning your home, paying for kids college, retirement and financial independence. These goals can only be attained by growing your net worth.

If your net worth calculation is increasing every year then you are on the right track. However, if your net worth is holding steady or declining, you should start identifying the causes and think about how you can improve your financial condition.

See our other educational products for targeted solutions to help you increase your net worth.

Net Worth Calculator Terms & Definitions

  • Assets – Everything you own including cash, investments, real properties, vehicles, and more that are regarded as having value and available to meet debts or other financial obligations.
  • Liabilities – All your financial obligations that include long- and short-term loans, mortgages, auto loans, credit cards, and personal loans.
  • Net Worth – The total assets minus total liabilities of an individual or company.

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