Add up what you own
Checking and savings, retirement accounts, investments, and the current resale value of things like a car or a home. Use realistic values, not what you paid.
Subtract what you owe
Every balance: mortgage, car loan, student loans, credit cards and any personal loans.
Worked example
Checking $2,400, savings $5,000, a car worth $12,000 and retirement savings of $18,500 total $37,900. A car loan of $8,500, credit cards of $1,800 and student loans of $14,200 total $24,500. Net worth is $13,400.
Moving $500 from savings to the credit card leaves net worth unchanged, because assets and debts both fall by $500. Net worth rises when income goes to savings or to a debt instead of being spent.
Track the trend
Update it once a month or once a quarter on the same day. A negative number early in life, often from student loans, is common. What matters is that it rises over time.
Try the calculator
Run your own numbers in the free compound interest calculator. It works in your browser and nothing you enter is saved or sent.
Do it in Wrenfold
Wrenfold tracks your accounts and debts and charts your net worth over time. Wrenfold is the budgeting app we make. Your data stays in a file on your own device, and you can try it free in your browser with up to 60 entries.
Sources
Common questions
Should I include my home and car?
Yes, at a realistic resale value, along with the loans on them.
How often should I check it?
Monthly or quarterly is enough; daily changes are mostly noise.
How often should I update my net worth?
Monthly or quarterly. The direction over a year matters more than any single month.
This guide is general information, not financial, tax or legal advice. Rates, fees and rules change, so confirm current terms with the lender, store or agency involved. All dollar figures are invented examples.