Net Worth Calculator – Personal Balance Sheet

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Net Worth Calculator

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. Once you've completed the entire worksheet, click on the "Printer Friendly Report" button at the bottom so you can print-out and compare to your other net worth statements to track your progress.

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.

Finally, if this calculator helped you then please like, tweet, or +1. Thanks for your support!

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

An excellent way to track your financial progress is to calculate your net worth.

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

How are you sure you’ll calculate it correctly every time?

The Net Worth Calculator takes out the guesswork and provides a comprehensive list of assets and liabilities to ensure you obtain an accurate net worth every time.

Explore some more about net worth and how calculating it can help you below.

Net Worth

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

It is a summary of your assets minus your liabilities. In other words, your personal net worth is calculated by listing all that you own and all that you owe.

Before you determine your net worth, you will want to gather together all your available financial documents, which includes your recent bank and loan statements. Once you have that, start the calculation by listing all of your assets with their values. Add together all your assets to get your total assets (the calculator does this for you). Your goal should be to continually increase your assets which will 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
  • Automobile value (the resale value of your car)
  • Personal property value (resale value of jewelry, gold, furniture and other household items, etc.)
  • Other assets

You should not include an inheritance that is actually not there. 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 liabilities from assets. Liabilities are defined as everything you owe. Subtract all of your debts including your mortgage, auto loan, and credit card balances from your total assets.

The total figure remaining at the end 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 and can take steps to improve it.

3 Common Mistakes To Avoid When Using A Net Worth Calculator

Whenever you calculate net worth it is critically important to measure both assets and liabilities. A common mistake is to forget to net out the liabilities thus showing only assets which inflates your financial picture. Net worth is correctly calculated by subtracting liabilities from your assets to represent a complete, personal balance sheet.

Another common mistake that makes your net worth calculation inaccurate is to accidentally not include all relevant data. The value of this balance sheet template is it prompts you for the various items that should be included so that you don’t leave anything out thus increasing accuracy.

Finally, it is not uncommon to show a negative net worth statement. Of course, this means you owe more than you own which can be frustrating and cause you to skip the net worth calculation in future years. While this situation is unfortunate, it is important to continue calculating net worth every year as explained below . . . .

Why Calculate A Net Worth Statement?

It’s important to calculate net worth because it encourages you to improve over time and, when doing so repeatedly, helps you track your progress. By using this balance sheet template and calculating net worth every year you will have a running snapshot of how your financial picture is improving over time.

Here are some of the main benefits summed up:

  • Net worth will help give you a clearer picture of your financial wellbeing so you can make more informed decisions about your future.
  • 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 goals.
  • Maintaining 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 once you know what your current net worth is.

How Can You Increase Your Net Worth?

You can increase your 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 and are both equally important. However, reducing liabilities is limited since you can only go to zero; whereas, increasing assets is unlimited. Thus, it is valuable to pay attention to both, but focus on the asset column for maximum long-term benefit.

Another good practice is to update your personal balance sheet at least twice per year so that you can compare the figure with the previous year’s calculations and measure progress.

Final Thoughts

Determining your net worth is more than just knowing how much you have. It’s also an indicator for determining whether or not your assets are increasing over time.

If your net worth calculation is increasing every year then you are on the right track. However, if your net worth is only holding steady or declining, you should start identifying the causes and think about how you can improve your financial condition. Our educational products offer targeted solutions that can help you increase your net worth.

Net Worth Calculator Terms & Definitions

  • Assets – All the properties you own including cash, investments, real properties, vehicles, and more that are regarded as having value and available to meet debts, commitments, or legacies.
  • 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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