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Net worth is a measure of a person's assets minus their liabilities. Put simply, it's a way to calculate how much a person is worth financially. While net worth is often associated with celebrities and the ultra-wealthy, it's a good idea for everyone to keep track of their net worth. Why? Because it's a good way to track your financial progress over time. By regularly calculating your net worth, you can see how your financial situation is improving (or worsening) and make changes accordingly. There's no right or wrong way to calculate your net worth. The most important thing is to be accurate and consistent with your numbers. Use current market values for your assets and liabilities, and update your figures regularly. Doing this will give you a true picture of your financial situation and allow you to properly track your progress.