Tracking your net worth is essential to see your overall financial health. It’s like a snapshot of your finances for a specific period of time. You always want a positive net worth, but there will be some instances where you might have a negative net worth. Having a negative net worth isn’t necessarily a bad thing, it just means you have more liabilities than you do assets. For me, this was the case when I was carrying a heavy debt load. List out all of your assets and their value, and then list out all of your debts or liabilities and how much you owe for each. Your net worth is calculated by the following formula = Total Assets – Total Liabilities. Use the area at the bottom of the worksheet to track your progress. If this is your first month tracking your net worth, you might need to wait until the following month to fill in this information.