YOUR NET WORTH CALCULATION
YOUR ASSETS YOUR LIABILITIES
LIQUID ASSETS
Cash
Savings account
Recurring deposit
Jewellery
Life insurance (cash)
INVESTMENTS
Fixed deposits
Bonds
Mutual funds
Stocks
Post office savings
Value of property
POSSESSIONS
Resale value of
Cars Antiques/heirlooms
Furniture
Electronic goods
TOTAL: A
|
CURRENT VALUE
|
OUTSTANDING LOANS
Home loan
Car loan
Personal loan
Education loan
Business loan
Other loans
DEBT
Credit card dues
Income tax dues
Term plan premium
Health plan premium
Utility dues
Advance from employer
Alimony
Others
TOTAL:B
|
CURRENT VALUE
|
YOUR CURRENT NET WORTH: (ASSETS – LIABILITIES): A – B
If this is not positive, it is cause for alarm as your finances are in deep trouble.
HOW TO IMPROVE THE RESULT
- Hunt for any investment documents you couldn’t find and, hence, didn’t include.
- Pay small loans and outstanding bills from any excess cash in your savings.
- Fix a repayment schedule for the advance from your employer.
- Invest in small repairs that will improve the value of assets like a house.
Your current net worth should decide your future financial decisions