Skip to content
Determine your net worth to help with personal financial planning.

What's your net worth?

Your "net worth" is a snapshot of your financial picture at a given time. You can find out what your net worth is by following the instructions below. The results will suggest the steps you need to take to achieve your financial goals, and will provide a benchmark to monitor your progress.

Figuring out your net worth

To find your net worth, you simply add up the value of your assets and subtract your liabilities.

It helps if you've already organized your financial papers so you can quickly access the numbers. This handy Net Worth Calculator also makes it easier.

What it means

When you look at your net worth, look past the final tallies. Pay attention to both parts of your net worth — liabilities and assets.

Liabilities: If you arrive at a high number for your total liabilities, is it "good debt," which helps you meet your mid- and long-term goals? Examples of good debt include money borrowed to help buy a home or start a business, a tax-deductible investment loan that boosts your savings or a student loan that makes it possible to get a good job. Or is it "bad debt" — short-term lifestyle spending on consumer items that don't hold their value?

Assets: Do you have an emergency fund you can tap into if you require quick access to cash? Or is most of your wealth tied up in assets that make it difficult to get to, such as a home that you own or long-term investments?

Take steps to achieve your financial goals

Once your assets and liabilities are all on paper in one place, you may find it easier to determine the next steps you want to take.

If you are uncomfortable with how much debt you have, for example, pay particular attention to costly debt such as higher-rate credit card and personal loan balances. Paying these off first or refinancing at more attractive rates could help you increase your net worth by reducing borrowing costs. You might then consider saving more of your income.

If your investments, savings and other assets are spread among many financial institutions, consolidating them can make it easier to monitor progress and maintain an effective financial strategy.

At TD Canada Trust, we can help you consolidate your debts and assets to help you follow through with your plan. We can provide you with a personal assessment to see where you stand financially. Visit your local branch today or call 1-866-222-3456.

Learn how to find out your net worth, and how you can use it to improve your financial situation.

Featured Tools