Many people need to know what the value of their assets are, and essentially, what their net worth is. Net worth is calculated based the value of positive assets compared to liability. A lot of people would be unsure as to how to approach finding out their net worth. It can be difficult to calculate all those figures to come up with a final figure that says what your net worth is. Using a good net worth calculator is a great way to easily find out what your net worth is.
Using the Net Worth Calculator
For anyone with Microsoft Excel, this net worth percentile calculator is ideal. It is free to download and easy to use on Excel. Additionally, it is fully customizable using Excel so you can enter all your own relevant information. The net worth percentile calculator has a section in which you can enter all your assets. In this section, you can enter your personal items, cash or cash equivalent and investments. You can also enter the estimated value of each of the items you enter. At the bottom of the template, you will be able to use Microsoft Excel to add up your figures and present you with a total figure on your assets.
The other section of the template is where you can record your liabilities. You can enter information about your loan balances, credit card debts, and any other outstanding debts. Just like the section for your assets, you can use Excel to add up a total for your liabilities also. The great thing about this calculator is that as soon as you have all your information entered, the calculator will automatically calculate your net worth based on the figures you entered.
Tips for Using the Net Worth Calculator
- Keep all the necessary information regarding your assets and liabilities in an organized, safe place. This will make it easier for you when you use the calculator.
- If you are not sure about the value of one of your assets, just enter your closest estimate.
- Make sure that you don’t leave any important information out when using the calculator. Entering details of all your assets and liabilities will mean a more accurate net worth.
Download: Net Worth Calculator