 TITLE: How to Calculate Your Net Worth CONTENT: Why Knowing Your Net Worth Is Important\n---------------------------------------\nCalculating your net worth regularly is essential to your financial success. Not only can it give you an idea of how you're doing overall, but it may be able to provide some hints on what you can do to get or stay on the right track.\nFor example, it's possible to have a negative net worth, especially if you're young and haven't had the chance to generate enough savings. If this is the case for you, you may want to focus on paying off debt so you're not left broke if something bad happens.\nIf your net worth is growing, on the other hand, you can look at your individual assets and liabilities and think of ways you can speed up or sustain that growth. For example, you may consider taking some of your savings and putting it into an investment account or paying down high interest debt.\nLash advises updating your net worth calculation once a month. \"That will help you see how your assets are doing and also help keep your spending in line so that you don't go backwards instead of forwards,\" she explains.\nIf the thought of having to calculate your net worth regularly doesn't sound fun, the good news is that you may not have to do it yourself. Some budgeting apps, such as Mint and You Need a Budget, allow you to connect all of your financial accounts and can show you what your net worth is at any time. END