The value of items owned minus the amounts owed to others equals: net worth.
Simply said, a person's net worth is the amount that remains after deducting liabilities from assets. Liabilities include obligations like mortgages, credit card debt, student loans, and auto loans, among others.
Your net worth is calculated as the sum of all of your assets less all of your obligations. In other words, it is all you own less everything you owe. You have a negative net worth if you owe more money than you own.
You can calculate your tangible net worth using the formula (Tangible Net Worth = Total Assets - Total Liabilities - Intangible Assets) once you have determined the value of all of your assets and the extent of all of your liabilities.
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