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You may be wondering, how to calculate my net worth? How to track my net worth? In this video, you will hear net worth explained. We will talk about networth calculator and touch on how to calculate your net worth the easy way. Moreover, how to track your net worth over time and the importance of doing this.

🔵Video Outline🔵

We always hear about the richest people in the world, but how do you actually define them? Forbes, etc. look at a person's Net Worth. This is essentially all your Assets (everything you own) minus all your Liabilities (which is everything you owe).

This comes to your total Net Worth. This is a good indicator to benchmark yourself to people at similar age group or industries, however, you should not get too obsessed with this, instead focus on growing your own Net Worth number.

Personally, I like to calculate and track my own Net Worth over time, to see how it, ideally positively, develops from month to month. I use Google Sheets in which I calculate and track all my assets and all my liabilities for the month. Doing this on a monthly basis allows me to steadily grow my Net Worth.

My main focus is always to increase my assets, through investments, etc., while reducing my liabilities, i.e. mortgage, credit card debts, etc. as this is the fastest way to grow your Net Worth.

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⚪️Timestamps⚪️
0:00 How To Calculate My Net Worth Intro
0:46 What Is Net Worth?
1:17 Assets & Liabilities
1:55 Net Worth Calculation Formula
3:01 How To Calculate My Net Worth
3:50 Track Your Net Worth Development
4:51 How You Can Increase Your Net Worth
6:18 Why You Should Know What Your Net Worth Is
6:56 Net Worth Benchmarking
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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions.

Affiliate Disclosure: This description contains some affiliate links, meaning that I may earn a small commission if you click through and use these links (at no additional cost to you).

#Networth #NetWorthCalculation #NetWorthTracking

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