Step 1: Assessing Financial Health

In This Step:

	Overview - Step 1
	Financial Health Test
	Getting Organized
	Determining Your Cash Flow
	Understanding Your Net Worth
	Learning Milestone

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Assessing Financial Health -Net Worth Worksheet

Now that you know what you need to calculate your net worth, use our tool below to determine it.

Where You Stand: How Much Are You Worth? Net Worth = Assets - Liabilities
The following worksheet will help you easily add up all of your assets and subtract them from your outstanding debts. This worksheet will help you to put your net worth into perspective and offer the insight to understand how you are doing. Congratulations on taking this important step to becoming financially healthy!
Annual Income		Age
Your Assets		Your Liabilities
Cash & Liquid Assets		Credit Card Debt
Checking/Savings		Credit Card Balance
Certificate of Deposit		Total Credit Card Debt
Money Market Account		Loans
Total Cash & Liquid Assets		Car Loans/Leases
Stocks and Bonds		Loans against Investments or Insurance
Treasury Bills		Student Loans
Bonds		Total Loans
Mutual Funds		Home Related Debt
Stocks		First Mortgage
Stock Options		Second Mortgage
Investment Real Estate		Home Equity Line
Total Market Value of Stocks and Bonds		Total Home Related Debt
Retirement Accounts		Taxes
401K or 403B		Taxes Due
IRAs or Keogh		Taxes - Investments (if cashed in)
Pensions		Taxes - Retirement Accounts (if cashed in)
Total Retirement Accounts		Total Taxes
Personal
Value of Private Business
Value of Life Insurance
Home
Car
Other - Jewelry, Furnishings
Total Assets		Total Liabilities
Total Assets - Total Liabilities =

Taking Action
Once you've determined your net worth and you find you're spending more than you're earning, make an action plan to control expenses and increase investments. Keeping more of what you make is the key to increasing your net worth.

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