Your Net Worth

Some of you mat remember Consurmer Credit Counseling. This national non-profit agency helped thousands of people working with creditors when they faced job losses, illness or other reasons to be in financial trouble. They are now called Money Management International and they offer web-based information on practical financial issues.

I thought I'd show you their site to help you figure out your net worth.

A Net Worth Statement simply directs you to subtract what you owe- your liabilities from what you OWN, your assets. The remainder is your net worth.

Your assets include cash in checking, and saving accounts

Property - such as car, house, boat, land and camp

Investments- CD's, retirement and other investments in stocks, bonds, mutual funds and annuities

Liabilities o subtract from the assets mortgage principal,

Other debt you have on land, car or boats

Taxes owed and credit cards

Tuition and other debt.

Add up the assets. Add up the liabilities. Subtract the liabilities from the assets and that's your net worth.

Citation:

http://www.financialliteracymonth.com/30Steps/Step8.aspx

Marion R. Syversen, MBA - President
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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