 TITLE: How to Calculate Your Net Worth CONTENT: How to Figure Out Your Net Worth\n--------------------------------\nCalculating your net worth is simple: Subtract your liabilities from your assets. But the process can take time. Here are the steps to take to get your net worth number.\n### 1\\. Pick a Date\nYour net worth is a snapshot of your overall financial health at a specific time. So pick a date, preferably at the end of a month, quarter or year, so you can have a good reference point in the future.\n### 2\\. Gather Your Data\nThe most time-consuming part of the process, this is where you'll gather all of your balances. Try to get the most accurate balance for the date you chose for your bank accounts, credit cards, loans, investments, and other assets and liabilities.\nIf you own a home or business, use a recent appraisal or a conservative estimate. For your car, use the Kelley Blue Book value to get a rough idea.\nWrite down each of your assets and liabilities or use a spreadsheet to put them all in one place. Take your time so you don't accidentally forget something. \"The method doesn't matter so long as your asset and debt numbers are accurate and you track your net worth on a consistent schedule,\" says McPherson.\n### 3\\. Add Up All of Your Assets and Liabilities\nNow it's time to separate your assets from your liabilities and add them up. If you already have them written down or in a spreadsheet, the process shouldn't take long. Just remember, a liability is something you owe, while an asset is something you could potentially use to pay off your liabilities.\n### 4\\. Do the Math\nAgain, your net worth is the difference between your assets and liabilities, so subtract the total amount you owe all of your creditors from the total amount you have in the form of cash, investments and other assets. END