If someone were to ask you how much money you make, most likely, you could answer off the top of your head.
Many people underestimate the importance of calculating and tracking their net worth.
According to the Minnesota Society of CPAs, keeping track of your net worth is like having a financial compass, leading you on the right path to building wealth. Calculating net worth Net worth is the value of all your assets minus your liabilities. It is a snapshot of your current financial situation what you own less what you owe at a given time. To calculate your net worth, begin by adding up the value of all of your assets. Start with your primary residence and add the value of your vacation home and any other real estate you own.