How to Figure Personal Net Worth When Married

Couples can create a balance sheet to calculate net worth.
Couples can create a balance sheet to calculate net worth. (Image: Jupiterimages/BananaStock/Getty Images)

Married couples can create a personal balance sheet to calculate their net worth. The balance sheet in this case is a list that shows the couple’s assets and liabilities and their values. The difference between their assets and liabilities represents the couple’s net worth. This total is typically shared equally between the two spouses; however, if a couple keeps all assets and liabilities separate from each other, each can create his or her own balance sheet to determine personal net worth.

Make a list of all of the assets you own. Assets are anything you own that has value. This includes property, cash, retirement accounts, stocks, automobiles and collections.

Divide the assets into categories. Current assets are things that are easily redeemed such as cash on hand and cash in savings and checking accounts. Investments is another category and this represents amounts in the stock market and any retirement accounts. You can also use several other categories including property and automobiles. Place each asset from the list into the correlating category.

Total the assets. Add up each category individually and then add up all category totals. Place this amount below all assets.

List your liabilities, which are amounts you may owe various people and businesses. When listing your liabilities, separate them into two categories: current liabilities are small debts owed that you will pay off soon, and long-term liabilities are amounts owed for loans and other long-term items.

Total the liabilities. Add up both categories, list each one’s total and place a total of all liabilities below these listings.

Subtract the liabilities from the assets. If the amount of assets you own is more than the amount of liabilities you owe, then you have a positive net worth. If you owe more in liabilities than you own in assets, you have a negative net worth.

Divide the amount. If you want to know personally what portion is yours, you can divide the net worth by two, if both spouses equally own the assets and the debt.

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