ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Essentially, net worth refers to the difference between the value of what you currently own-your residence, your retirement funds, investments in mutual funds, bonds, insurance policies, and your bank balance-while subtracting liabilities such as loan payments, credit card dues, mortgages, and taxes.

Detailed explanation-2: -Net worth is the value of all assets, minus the total of all liabilities. Put another way, net worth is what is owned minus what is owed. This net worth calculator helps determine your net worth. It also estimates how net worth could grow or decline over the next 10 years.

Detailed explanation-3: -Net wealth is the total amount of assets held by a household (gross wealth) deduction made from the amount of capital it still owes on loans taken out to acquire property, capital goods, or for any other personal or business purpose.

Detailed explanation-4: -Your net worth is simply the dollar amount of all of your assets minus all your debts. If your assets exceed your liabilities, you end up with a positive net worth.

Detailed explanation-5: -List your assets (what you own), estimate the value of each, and add up the total. Include items such as: List your liabilities (what you owe) and add up the outstanding balances. Subtract your liabilities from your assets to determine your personal net worth.