Your Net Worth

Increasing your net worth is important to not only boost your credit but also to see a snapshot of how strong you stand financially. It is sort of a personal balance sheet just for you. To understand your net worth you must understand your assets and liabilities. Or simply put "What You Own vs. What You Owe."

Check out this quick video to understand net worth and how to build it.

Key Takeaways

• What you have in your checking & savings account is not an accurate picture of your net worth

• Holding cash while making minimum payments on debt increases how expensive that debt is

• Investing may be a better option than having a "fat" bank account

• Getting education on investing can reduce the fear of making your money work harder to increase your net worth

• Calculate your net worth every quarter