Knowing Your Net Worth: It's Not Just for Millionaires

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PHOTO: AK ROCKEFELLER

When you hear the words "net worth," you might picture people in limousines or country clubs. But many money experts say knowing your net worth—that's the value of all your money and possessions, minus all your debts—is valuable no matter what your financial situation is.

Your goal is for your net worth to be higher rather than lower, of course, but even if it's a negative

number right now (if you're carrying a large student loan or a mortgage, for example), you know where you stand in the big financial picture—an important step on the road to getting control of your money. A recent article on Lifehacker discusses this idea, and offers links to tools for determining your net worth.

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