3021: How to Calculate Your Net Worth And Why It Can Help by Jackie Beck on Financial Awareness and Planning

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 28 January 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3021: Understanding your net worth is a powerful tool for financial awareness. Jackie Beck breaks down how to calculate it, why it matters, and how tracking it over time can guide your financial decisions. Whether you're aiming to pay off debt or build wealth, knowing where you stand helps you set meaningful goals and measure progress. Read along with the original article(s) here: https://www.jackiebeck.com/net-worth/ Quotes to ponder: "Net Worth = Assets - Liabilities. It’s as simple as that, but understanding this equation can change how you approach your finances." "You live your life, not anyone else’s, so paying attention to your money is key." "Knowing where you are money-wise can help you pick what to focus on. That’s important if you want to reach your goals." Episode references: Tiller’s Spreadsheet: https://www.tillerhq.com/ Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

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1:17.5	Subscribe to the average Joe now. This is Optimal Finance Daily. How to calculate your net worth and why it can help by Jackie Beck of Jackie Beck.com.
1:30.0	Let's talk net worth, how to calculate it, and why you might want to figure it out.
1:34.8	Let's get the definition out of the way real quick first.
1:37.7	What is net worth from a personal finance point of view?
1:41.0	It's the result of this formula.
1:43.3	Net worth equals assets minus liabilities.
1:46.7	Assets are the things you own. Liabilities are debts you owe. So net worth is the value of everything
1:52.8	you own minus the value of everything you owe. If you own more than you owe, you have a positive
1:59.0	net worth. If the reverse is true, then you have a negative
2:02.6	net worth. And if it's exactly zero, that's surprising. Net worth isn't a set thing either. Instead,
	...

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