Household Net Worth Calculator Create a Picture of Your Finances

Household Net Worth Calculator Sign

This free online calculator will help you to create a personal balance sheet that you can print out for the purpose of keeping track of your financial progress.

You can either enter your own personal balance sheet asset and liability descriptions, or you can choose to load balance sheet sample descriptions into the description fields.

Plus, in addition to calculating net worth, this calculator also includes an optional column for entering the values from a past personal balance sheet. This will help you to compare your current financial well-being with that of your last net worth statement.

And finally, the calculator also includes a pie chart that gives you a visual breakdown of your assets and liabilities.

If you're not sure what net worth is, or you're not sure why it's important to your financial well-being, it may help to visit the Learn tab before using the calculator.

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Household Net Worth Calculator

Calculate your household's net worth and create a balance sheet that you can print out for the purpose of keeping track of your financial progress.

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Net Worth Report Preferences

Net Worth Report Preferences:

This section provides fields and choices that will be used by the remainder of the calculator. Note that you can change any of these preferences at any time, however it's best to set your preferences before going on the next section to avoid losing any entered data.

Sheet title:Balance sheet title:Title for personal balance sheet:Title for personal balance sheet:

Title for personal balance sheet:

Optional: If you would like your personal or family name to appear on the printed personal balance sheet, enter the name here.

Columns:Statement columns:Statement entry columns:Statement entry columns:

Statement entry columns:

If you want to enter assets and liabilities from a past net worth statement, select Current & Past from the drop-down menu and enter both dates in the fields below. Or, if you are not entering values from a past statement, select Current from the drop-down menu and enter just the current date in the next row.

Current date:

Current date:

Enter the current date to be displayed on the balance sheet.

Past date:

Past date:

Enter the date of a past balance sheet that you wish to compare to your present balance sheet.

Load or Clear SamplesLoad or Clear Sample TitlesLoad or Clear Sample Assets and LiabilitiesLoad or Clear Sample Assets and Liabilities

Load or Clear Sample Assets and Liabilities:

If you would like the calculator to populate all asset and liability categories with sample balance sheet descriptions, tap the "Load Samples" button.

If you would like to clear all sample balance sheet descriptions, for the purpose of entering your own, tap the "Clr" (Clear Samples) button.

Assets

Assets:

Categories: Tap the plus signs (+) to expand each category where you can enter titles and values for up to 15 sub-categories.

Note that the calculator will keep a running total of each asset category, as well as the total of all assets. If you selected "Current & Past", the current totals will appear at the top of the row and the past totals will appear at the bottom of the row.

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Liabilities

Liabilities:

Categories: Tap the plus signs (+) to expand each liability category where you can enter titles and values for up to 15 sub-categories.

Note that the calculator will keep a running total of each liability category, as well as the total of all liabilities. If you selected "Current & Past", the current totals will appear at the top of the row and the past totals will appear at the bottom of the row.

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Net Worth and Ratios

Net Worth and Ratios:

After tapping the "Calculate Net Worth" button this section of the calculator will display the total entered assets and liabilities, along with your net worth and your current and debt ratios.

Tap any linked result text for a pop-up explanation.

ResultsCurrentPast
Assets:

Total assets:

This row contains the total of your entered assets, and if applicable, the total of your assets as of a past date.

  
Liabilities:

Total liabilities:

This row contains the total of your entered liabilities, and if applicable, the total of your liabilities as of a past date.

  
Net worth:

Net worth:

Based on your entries, this is your current net worth (total assets - total liabilities), and, if applicable, the net worth as of the last time you created a personal balance sheet.

  
Current ratio:

Current ratio:

Based on your entries, this is your current ratio (liquid assets ÷ current liabilities), and, if applicable, the current ratio as of the last time you created a personal balance sheet.

  
Debt ratio:

Debt ratio:

Based on your entries, this is your debt ratio (total liabilities ÷ net worth), and, if applicable, the debt ratio as of the last time you created a personal balance sheet.

  

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

Learn

What Net Worth is and why it's important.

What is "Net Worth?"

Basically, Net worth is the difference between what you own and what you owe. What you own is referred to as assets, and what you owe is referred to as liabilities. Therefore, your net worth is equal to the total value of your assets minus the total of your liabilities.

The report that lists your assets and liabilities, and the difference between the two, is called a statement of net worth -- which is also referred to as a "personal balance sheet."

Typically, assets are broken down into 3 separate categories:

  • Liquid or Current Assets: Cash and assets that can be quickly and easily converted into cash.
  • Investment Assets: Stocks, bonds, CDs, mutual funds, retirement accounts, business interests, investment real estate, and so on.
  • Personal Assets: Personal belongings that have a resale value, such as a personal residence, automobiles, recreational vehicles, appliances, tools, furniture, etc..

In order to be realistic, when assigning a value to a personal asset it's important to use market value (what the item will actually sell for) rather than the amount you paid for the asset.

Also, since the value of personal assets tends to diminish with time and use, it's important to adjust their values down as they get older and/or become obsolete.

Liabilities are usually broken down into 2 or 3 separate categories:

  • Current Liabilities: Amounts owed that are expected to be paid back within one year (credit cards, lines of credit, charge accounts, personal loans, notes payable).
  • Long-Term Liabilities: Amounts that are owed that will take longer than one year to pay off (mortgage, home-improvement loans, auto loans).
  • Contingent Liabilities: Amounts you may or may not owe depending on future events (taxes, co-signed loans, pending lawsuits).

Why is Calculating Net Worth Important?

In order to get where you want to go financially, you first need to know where you are and in which direction you're heading.

By calculating net worth on a regular basis you will be able to see where you are at in relation to your goals, and whether you're heading toward your goals or moving away from them.

Unfortunately most people are so afraid of seeing how bad things might be, they avoid calculating net worth altogether.

The problem with having that fear is that they have no basis from which to set small, achievable goals. They also miss out on opportunities to celebrate the small victories that come when they manage to meet their bite-sized net worth goals.

How Often Should You Calculate Net Worth?

The wise among us who do take the time to calculate net worth on a regular basis, usually do so on an annual basis.

Personally, I feel it's best to create a new personal balance sheet on a quarterly basis. Not only does this allow you to set short term goals, it also affords you the chance to take corrective action instead of waiting a whole year to see if what you're doing is working.

Then again, since I take the time to log all of my financial transactions into my personal finance software, it is quite easy to generate and print a net worth statement any time I wish to do so.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.