Net Worth: Basically how your assets stack up against your debts/liabilities.
More assets than debt/ liabilities = positive net worth. GOOD
More debt/liabilities than assets = negative net worth. Bad
For the longest I had no idea what the term meant. Something about how much a net costs was my early thinking. I don’t know why I didn’t learn about it sooner.
Like my parents, I’m guilty of not teaching my kids about net worth and what it means. Now I know, and I’m going to spread the word.
What’s Your “Net” Worth? – Shin, Money is not Taboo: My take on net worth, the Simpleton’s version.
How to Calculate Your Personal Net Worth – Definitions & Calculations – This is a great one from Money Crashers and it’s worth looking into. You definitely won’t go wrong with this info.
My Net Worth (Over 9 Years) – J. Money, Budgets are Sexy. J. gives you some insight into his tracking his net worth and how he’s done it.
We’ll be adding more info, so stay tuned for new links leading to more great info on Net Worth.