Episode 36: Calculating Your Networth
- Net versus Gross can seem like a tricky combination. Gross means what you have in total, and net means what you have after any applicable deductions.
- Your net worth is made up of the assets and liabilities that you own.
- To calculate, you’ll need to add up everything you own then subtract the amount you owe.
- Watch out for debt that’s not tied to a tangible item, like a home or car. This is a liability, and can include credit cards, personal loans, and student loans.
- Your net worth does not determine your worth as a person. How much money you have has nothing to do with who you are. Moving your net worth into a positive number takes work and time, but kindness is free!
GHS is here to help with any questions concerning your accounts and managing your money goals! Stop in to a branch or call us if you need us at (800) 732-4447.