Why should I care about my net worth?
Feeling overwhelmed by the complexity of managing your finances? At Euphinance, the belief is that personal finance should be made as simple as possible, to empower individuals to take control of their financial future. One of the simplest and most powerful tools for understanding financial health is net worth.
Net worth is more than just a number – it’s a reflection of your financial well-being. Beyond the dollars and cents, it encompasses your aspirations and dreams. Whether you’re saving for major life milestones like buying a home or planning dream vacation and experiences, knowing your net worth is crucial for making informed financial decisions that align with your goals and values.
Realizing the benefits through a client story
Take Sarah*, a 33-year-old Data Engineer client, for example. Like many of us, Sarah* felt overwhelmed by her finances and lacked confidence in her ability to build wealth. However, after using Euphinance’s free net worth calculator below, she discovered that her net worth exceeded the average for her age group. This realization gave her a newfound sense of financial confidence and clarity. With personalized coaching sessions, Sarah* was empowered to set concrete saving and investing goals, enabling her to pursue her aspirations with confidence and purpose with her current salary.
*Sarah isn’t her real name. Name changed to protect privacy.
Understanding Net Worth and Taking Action
Net Worth = Assets – Liabilities
Put simply, net worth is what you own minus what you owe. Assets include bank balances, retirement accounts, investments, and your home. Liabilities include personal loans, mortgage balances, and car payments.
Ready to calculate your net worth and take control of your financial future? Use the free calculator below to gain insights into your financial situation and compare your net worth with national averages.
How to figure out my house and car’s value?
To calculate your net worth, you’ll need to know how much your house and car are worth. There are two 100% free tools that can help you quickly figure out what these are worth:
1). House’s Current Value – Zillow can provide an estimate. HERE is a link to their house assessment page.
2). Car’s Current Value – Kelley Blue Book can provide an estimate. HERE is a link to their car assessment page.
How can I calculate my net worth?
Next Step
Read the article about Retirement. Start reading HERE.