Net Worth

To calculate someone's worth, you take your total assets, and then subtract your liabilities

That will reveal your net worth! 🏦

Your assets are your bank accounts added up, plus the fair value of your possessions ie a home, phone, or anything that you own of value 🏠

Your liabilities are what you owe: a car loan, mortgage, credit card debt etc 💸

Let’s say as a teen all you have is $50 in your Bloom account, $20 in cash, and you own a $100 bicycle 🚲

You would have $170 in assets

However, you owe your friend Jake $20

This would then put your net worth at $150 💸

Did you know that according to the Federal Reserve, the median net worth of an American Family is $121,760? 🤔