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This article and worksheet from the FDIC could come in handy as you navigate your finances. The article discusses net worth and the appropriate definitions surrounding calculating it. Net worth, derived from assets minus liabilities, serves as a vital gauge of financial health, surpassing income alone in its reliability. Income fluctuations don't reflect debt or savings, unlike net worth, which can be positive, zero, or negative. A positive net worth signals financial stability, a zero net worth denotes equilibrium, while a negative net worth indicates debt surpassing assets. Calculating net worth involves listing assets and liabilities to ascertain financial standing accurately.
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