Net worth is a measure of your overall wealth. It is everything you own (assets) minus everything you owe (liabilities). Our net worth calculator helps determine your net worth by doing the calculations for you.
Assets are items that are owned by you and have a monetary value, they can be liquid assets and illiquid assets. Income is not considered an asset!
Liquid assets such as cash, checking accounts, savings, etc., are all considered liquid because they can be converted to cash quickly. Illiquid assets would include your home and locked-in investments that cannot be converted to cash quickly.
Liabilities are debts that are owed by you in the short and long term. This includes examples such as credit card debt, student loans, mortgages, personal loans, etc.
Net worth is calculated by taking all your assets and adding it up, followed by subtracting all your liabilities.