YOUR NET WORTH

The first step in planning your finances is to know where you financially stand today i.e. ascertaining your net-worth. Your net-worth is the difference between what you own and what you owe i.e. YOUR ASSETS - YOUR LIABILITIES. Calculate your net-worth periodically, say quarterly and keep track of changes. An increasing net-worth means you are doing well financially. 

To calculate your current net worth, enter the information in the table below. Keep in mind the following points while filling the table.

1. Use current market value.
2. Estimate if you can’t be accurate.
3. Be conservative.
4. Avoid insignificant detail.
5. Be honest. Nobody else needs to see these figures.

Fill in the current market value for all your assets in the table below: Note: Do not input figures or any other details in any of the Total boxes. Assets

Property: House /Flats Farm-House Other real estate (Land etc.) Sub-Total Precious Metals and Ornaments: Gold Silver Diamonds    Others Sub-Total      Vehicles: Car Motorcycle Others Sub-Total Equipment & Furniture: Furniture Computer   Household appliances           Sports Equipment Others Sub-Total Surrender value of life insurance policies and other annuities               Investment in securities: Equity Shares Preference Shares Debentures & Bonds Mutual funds & UTI units National Savings Certificates, Indira Vikas Patras etc Other Securities (Warrants etc)                                                   Sub-Total      Loans & Deposits: Post Office Deposits Fixed Deposits with Banks Fixed Deposits with Companies and NBFCs Loans To Friends and Relatives Other Loans and Deposits Sub-Total   Balances In: Provident Fund Account Public Provident Fund Account          Sub-Total Cash and Bank Balances: Balance in Savings Account Balance in Current Account       Cash in Hand        Sub-Total   Other Investments: Time Share Investments Investment In Plantation Schemes Antiques and Other Valuable Collectibles Sub-Total             Club Membership (include only if membership is transferable or refundable):                                                               Other Miscellaneous Assets (advance tax paid etc.):        TOTAL ASSETS           Fill in the current outstanding balance for all your loans and borrowings: Liabilities Housing Loan: Vehicle Loan: Loans from Banks & NBFCs  (consumer durables, share finance, personal loan etc): Borrowings  Bank balance Credit card  balance Unpaid bills  Other miscellaneous liabilities TOTAL LIABILITIES                Your Net Worth (Total Assets - Total Liabilities) Note your Net-Worth and the date on which it was calculated. Preferably print this page for your future reference. This will come in handy when you want to calculate your Net-Worth again after some time and you want to know why your Net-Worth increased or decreased.