Channel3000.com Posted: Updated: January 7, 2021 6:06 PM Net worth is the balance of your assets and liabilities at one point in time. Calculating your net worth takes into account all of your sources of wealth minus the debts you owe. Regularly calculating your net worth helps you get a feel for where you’re at with your finances and gain insight into ways to improve your financial life. What Does Net Worth Mean? At its most basic, net worth is your personal balance sheet, according to Elizabeth Keatinge, a Certified Personal Finance Counselor and the founder of FundsSavvy.com. “Simply put, it’s what you own minus what you owe,” Keatinge says.