what is the balance that reports on your financial position at a specific time.It summarizes the things you own (assets), the money you owe (liabilities), and your financial worth (net worth).Net worth represents your actual wealth and is the difference between your total assets and total liabilities.

Assetts Value OWE/Debts Home Vehicles Cash (savings) Other assetts (list below) Investments / Retirement Loans Credit card balances Balances 0 0 Networth (assets - liabilities) 0