Your net worth is about more than just money in your bank account, but calculating it is as easy as one, two, three — almost. #FinancialLiteracy #financialfreedom #personalfinance #finance #financeplanningNet worth can be a confusing concept to wrap your head around, but it's actually much simpler than you might think. So what is it and how do you calculate it? Well …

Your net worth is a tangible representation of all of your finances in number form. It shows you where you stand in comparison to others. Essentially, it takes your assets and liabilities into account — weighing the positive and negative elements of your financial profile — and gives you a number, either positive or negative.

If it’s the latter, don’t worry. It's possible to jump-start your money situation and get yourself back in the black. Look at your net worth as a snapshot of your finances  —one you should aim to check every six months. It’s a way of tracking your financial progress.