When you are really into and good at your personal finances (like I am hoping I will be one day), people start throwing around the term Net Worth.
It’s a way of calculating where you stand financially at a point in time, adding up your assets and subtracting your debts. I don’t want to put the cart before the horse here, I am still working on the monthly budget. Baby Steps. But I’m curious…
According to this calculator the median net worth for my age is $8,525. The median Net Worth for our income is $301,475. (Includes house values)
Our NET WORTH – +$112,000.