Household Net Worth Calculator
Create a Picture of Your Finances

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Help you to estimate the current difference between what you own (assets), and what you owe on what you own (liabilities).

This free online Household Net Worth 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 example 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 so you can compare your current financial well-being with that of your last net worth statement.

Furthermore, unlike other online net worth calculators, this household net worth calculator includes options for saving your results to your own computer so you won't have to re-enter all of your descriptions the next time you return here to calculate net worth.

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 read the following explanations before using the household net worth calculator.

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 that 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.

With that, let's use the Household Net Worth Calculator to create a personal balance sheet for tracking your financial progress.

Household Net Worth Calculator
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Instructions: Enter the name you would like to appear on the net worth statement, select whether or not you would like to include past personal balance sheet data and enter the statement dates accordingly.

Next, complete the three asset sections and the three liability sections and then click the "Calculate Net Worth" button.

If you would like to print out a copy of your completed personal balance sheet, click the "Printable Personal Balance Sheet" button. This will open a window containing a printer-friendly version of the calculated results.

Mouse over the blue question marks for a further explanation of each entry field. More in-depth explanations can be found in the glossary of terms located beneath the Free Personal Budgeting Calculator.

Note: This calculator does not track or save your personal data. If you wish to save your data for a return visit, the household net worth calculator includes an option for saving a delimited data string to your computer (click the "Show Export" button at bottom of calculator after completing your net worth statement entries for further instructions).

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Help Name for personal balance sheet:
Help statement date(s):
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Total Assets $0.00 $0.00
Help Liquid Assets
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Liquid Asset Descriptions
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Current $
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Past $
- End of Liquid Assets -
Help Investment Assets
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Investment Asset Descriptions
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Current $
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Past $
- End of Investment Assets -
Help Personal Assets
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Personal Asset Descriptions
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Current $
Help
Past $
- End of Personal Assets -
Total Liabilities $0.00 $0.00
Help Current Liabilities
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Current Liability Descriptions
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Current $
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Past $
- End of Current Liabilities -
Help Long-Term Liabilities
Help
Long-Term Liability Descriptions
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Current $
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Past $
- End of Long-Term Liabilities -
Help Contingent Liabilities
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Contingent Liability Descriptions
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Current $
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Past $
- End of Contingent Liabilities -
Net Worth and Balance Sheet Ratios Current Past
Help Net worth:
Help Current ratio:
Help Debt ratio:
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Export: To save the data so you can import your descriptions and past values into the household net worth calculator on your next visit, copy the selected contents below and paste into a text-only file (".txt" as in Notepad, SimpleText, etc.) and save the file to your hard drive.


Import To import data from your last visit to the household net worth calculator, open the text file you saved on your last visit, highlight and copy the text from the file, paste into the following field, and then click the "Import Data" button. If you would like the "Current $" from your last visit to be imported into the "Past $" column, select "Move Old Current $ to New Past $" from the drop-down menu beneath the field.


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Name 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.

Current & Past statement date: If you want to enter assets and liabilities from a past net worth statement, select Current & Past from the drop-down menu and enter the current date in the left-hand field and the date from the past statement in the right-hand field. Or, if you are not entering values from a past statement, select Current from the drop-down menu and enter the current date in the left-hand field. If Current is selected, the household net worth calculator will hide all fields in the Past $ column.

Personal Balance Sheet Example buttons: If you would like the household net worth calculator to populate all asset and liability categories with balance sheet example descriptions, click the "Load Personal Balance Sheet Example Descriptions" button. If you would like to clear all balance sheet example descriptions, for the purpose of entering your own, click the "Remove Examples" button. Note that both buttons will also clear the numerical entries.

Personal Balance Sheet sections: Click the [+] button to expand a section. This will display 15 separate lines wherein you can enter descriptions and amounts. The household net worth calculator will recalculate section totals as you enter amounts in each field. Note that only lines containing a description and an amount will be included in the printable personal balance sheet and in household net worth calculator export data string.

Asset: Item of value that you own or have an interest in.

Liquid asset: Cash, or any asset that can be quickly and easily converted into its cash value.

Investment asset: Investments such as stocks, bonds, mutual funds, certificates of deposit, retirement accounts, business interests, investment real estate, employee stock purchasing plans, etc..

Personal asset: Personal belongings that have a resale value, such as a residence, automobiles, tools, equipment, recreational vehicles, jewelry, furs, etc..

Liability: An amount owed to others.

Current liability: A debt or amount owed that is expected to be paid off in one year. This would include charge accounts, credit card balances, personal loans, notes payable, medical bills, insurance premiums, and so on.

Long-term liability: A debt that is not expected to be paid off for more than one year. This would include debts such as mortgages, home-improvement loans, auto loans, student loans, and so on.

Contingent liability: A debt that may be owed depending on future events. This would include things like taxes, pending lawsuits, loan defaults for which you are a co-signer, and so on.

Net worth: Based on your entries into the household net worth calculator, 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. A positive net worth indicates you have earned more money than you've spent or lost. A negative net worth indicates you have spent or lost more money than you've earned.

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. Current ratio is a balance sheet relationship used to determine the probability that you will be able to pay your upcoming debts. The higher your current ratio, the more likely you will be able to meet your short-term obligations as they come due.

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. Debt ratio is a balance sheet relationship used to determine your level of financial stability. Generally speaking, the lower your debt ratio, the more financially stable you are considered to be.

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