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You are not worth what you earned. You are worth what you saved.

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YOUR NET-WORTH
The first step in planning your finances is to know where you financially stand today i.e. ascertaining your net-worth. Your net-worth is the difference between what you own and what you owe i.e. YOUR ASSETS - YOUR LIABILITIES. Calculate your net-worth periodically, say quarterly and keep track of changes. An increasing net-worth means you are doing well financially. 

To calculate your current net worth, enter the information in the table below. Keep in mind the following points while filling the table.

1. Use current market value.

2. Estimate if you canít be accurate.

3. Be conservative.

4. Avoid insignificant detail.

5. Be honest. Nobody else needs to see these figures.

 

Fill in the current market value for all your assets in the table below:

Note: Do not input figures or any other details in any of the Total boxes.

Assets

Property:

House /Flats

Farm-House

Other real estate (Land etc.)

 Sub-Total 
  

Precious Metals and Ornaments:

Gold

Silver

Diamonds

  

Others

Sub-Total 
      

Vehicles:   

Car

Motorcycle

Others

 
Sub-Total 
 
 

Equipment & Furniture:

Furniture

Computer

  Household appliances

         

Sports Equipment

Others

Sub-Total


Surrender value of life insurance policies and other annuities


              Investment in securities:

Equity Shares

Preference Shares

Debentures & Bonds

Mutual funds & UTI units

National Savings Certificates, Indira Vikas Patras etc

Other Securities (Warrants etc)

                                                  Sub-Total

 

    

 

Loans & Deposits:

Post Office Deposits

Fixed Deposits with Banks

Fixed Deposits with Companies and NBFCs

Loans To Friends and Relatives

Other Loans and Deposits

Sub-Total


 


Balances In:

Provident Fund Account

Public Provident Fund Account

         Sub-Total


Cash and Bank Balances:

Balance in Savings Account

Balance in Current Account

      Cash in Hand

      

 
Sub-Total 


 

 

Other Investments:

Time Share Investments

Investment In Plantation Schemes

Antiques and Other Valuable Collectibles

 
Sub-Total 
 
 

            Club Membership (include only if membership is transferable or refundable):

                                                

             Other Miscellaneous Assets (advance tax paid etc.):

      

TOTAL ASSETS
         
   

Fill in the current outstanding balance for all your loans and borrowings:

Liabilities

 

Housing Loan:
Vehicle Loan:
Loans from Banks & NBFCs  (consumer durables, share finance, personal loan etc):
Borrowings 
Bank balance
Credit card  balance
Unpaid bills 
Other miscellaneous liabilities

TOTAL LIABILITIES               


   

Your Net Worth (Total Assets - Total Liabilities)

   
Note your Net-Worth and the date on which it was calculated. Preferably print this page for your future reference. This will come in handy when you want to calculate your Net-Worth again after some time and you want to know why your Net-Worth increased or decreased.

- Warren Buffett

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