(9.3) Net Worth

Knowing what your assets are is important when you're working out your net worth.

Which of these are considered assets?

• real estate property

• credit card debt

• savings account

• a car loan

The net worth is $

Before you can calculate your net worth, you must know what your liabilities are.

Which of these are liabilities?

• retirement account

• cell phone bill

• rent you pay for an apartment

• credit card debt

Suppose you walk into an electronics store and buy a brand new large-screen TV for $1,500 on credit, and you can't pay it all off straight away.

How does this scenario affect your net worth?

• increases the net worth

• decreases the net worth

• no change to net worth

Which of the following refers to personal belongings which have value?

• Assets

• Liabilities

• Net worth

• Net profit