Your current net worth is your assets less and debts owed. This amount may be considered by loan companies and creditors. Listed below are ways to help determine your current net worth.
- Current net worth is the amount that is ready to be cashed out any moment you need. To start you will need to determine the amount of your assets. Take into account checking and savings balance, real estate holdings, value of vehicles owned including recreational vehicles, current value of stocks owned and monthly income.
- Next you will need to calculate your debts. Include in this all debts, credit card balances, loan balances.
- The difference between your assets and your debts is your current net worth.