Calculate or determine your liquid net worth by adding up your liquid assets and subtracting all of your liabilities. When you're adding up the total of your liquid assets, you have the choice of counting only the assets that are entirely liquid (like cash and cash equivalents like savings and checking accounts). Alternatively, you can reduce the value of non-liquid assets according to how much money you could get right now for the asset. For example, the value of your home equity would be reduced by the realtor fees and other transaction costs that you would incur if you were to sell the house. You may also want to reduce the value of non-liquid assets to account for the fact that you may not get the total value if you need to sell quickly.