Food for thought: What is your net worth? Nobody likes tracking their finances despite it being of high importance. This is simply because people want to feel good about themselves and tracking of finances is the direct opposite of that. One of the common mistake many of us (even some established financial advisers) commit, is to believe that physical item such as driving a posh car represents wealth. Ironically, As shown in the simple illustration above, your personal net worth might be a more accurate representation of your financial situation. Once one gets an insight into his net worth, it also acts as a very good measurement of his progress and goals. How to calculate your net worth? Calculating your personal net worth is easy. It is simply the difference between things you own vs things you owe. There are only 3 easy steps to calculate your net worth: List down ......