Calculating your assets and liabilities
Net worth calculator – How to calculate net worth
What’s net worth? Net worth is the value if all the assets owned by someone minus the value of outstanding liabilities. So if one is running an institution or an organization, one must keep record of its net worth. Any financial and non-financial assets count as assets. Net worth is applied to both individuals and businesses to calculate their worth.
How to calculate net worth?
The traditional method involves pen and paper and a lot of burning of brain. This process is however outdated with the advent of the internet where online calculators are just a click away to do the calculation for you. If you’re looking for some website that can calculate net worth for you then here’s the list for you.
1. Bankrate.com: This place has just the right calculator for you that can calculate and generate a report. Also, the report is represented graphically so that you can follow the rise and fall of your worth. The website also lists the terms along with their definitions that you may find useful while calculating net worth. 2. CNN Money: This calculator comes with a worksheet with two different columns titled assets and debits. One just has to fill in the details for the calculator to perform the calculation. There is also pie chart to help you compare. This calculator is much helpful on a household level. 3. NerdWallet: NerdWallet also comes with a table that lets you enter your financial details for the calculation. It also comes with a chart that compares your net worth by income, by age, by family size, by education with other U.S families. 4. Kiplinger: Everything is at one place. Whether you want to limit you calculation to household or extend it up to businesses that you own, this net worth calculator has all the fields at one place. 5. Religare Online: This calculator lets you sign up for future use too. Fields like ULIP and Endowment Plan allows you to get a more detailed report in the end.