What is net worth? Simply, it is your assets minus your liabilities. Our calculator is designed to take the stress out of calculating your net worth. Input your information into the relevant fields and our calculator will do the rest.
This is designed to take a current snapshot of your financial position but as we all know too well, this changes daily. Our recommendation is to check back in every three months and track how you are getting on.
The equation is Net Worth = Assets - Liabilities.
Let's look at an example. If you had a mortgage on a flat worth £300,000 but only had an outstanding mortgage balance of £200,000, you can add £100,000 to your net worth.
Assets include balances in your current account and your savings account, as well as your pension total and any property you own. Liabilities include personal loans, credit card debt and mortgages. There are more examples for both and our calculator encompasses them all.