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David’s Balance Sheet

Learn the Language

 

Figure Your Net Worth

Using David’s balance sheet below (or another) as an example, complete your own online, or download a spreadsheet or PDF of the blank balance sheet. Be sure to add any assets or liabilities you have that David didn’t list.

web xls pdf

Complete your own online


See how the other people of Building Wealth figured their net worth using balance sheets.


David’s Balance Sheet

Wealth-building assets

Amount

Cash

$
1,700

Savings account

$
2,300

401(k) retirement plan/IRA

$
32,000

Market value of home

$
125,000

Other assets

Market value of two vehicles

$
21,000

Total assets

$
182,000

Liabilities

Amount

Home mortgage

$
88,000

Truck loan balance

$
15,000

Car loan balance

$
700

Credit card balances

$
14,500

Miscellaneous liabilities

$
2,500

Total Liabilities

$
120,700

Net worth

$
61,300

From Chapter 1: Learn the Language

David discovered that his and his wife’s household totals $182,000 in assets and $120,700 in liabilities, with a net worth of $61,300.

After making these calculations, David and his wife realized that although they have been able to save to meet their goals, they will need to make a few changes to increase their net worth.


Back to Chapter 1