A good understanding of your family net worth would bring about clarity in how to later craft your financial plan.

Assets

To calculate your family net worth, add up all your assets first. Include any money you have in the bank as well as the value of your investments. Include the value of your property and the worth of your car if you were to sell it. Don’t forget to add the money you have in your CPF account

Liabilities

Then subtract your liabilities: the debts you owe. That includes the remaining mortgage on your house and the balance of your car loan (if applicable). The amount left over is your net worth.

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Activity: Family Net Worth

This exercise will help you to calculate your family net worth.

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