-Determine the current actual value of your vehicle(s) by using the blue book website. (That’s the current actual value of your vehicle(s) in case you happen to sell it.) Remember, the vehicle loses its’ value immediately after you have driven off the car lot, which means the number is bound to be lower than the actual original buying price. In case you still owe cash in terms of loan(s) for the vehicle, subtract the amount from your current value so as to determine its’ worth.

-Determine the total amount of cash you’ve invested in any intangible asset you own. This can include stocks, bonds, certificates of deposit, mutual funds, among others. (To determine the actual value of bonds, look at principal invested, in addition to its’ annual percentage yield; To determine the stock value, use dividend discount model (abbreviated as DDM), that calculates stock’s worth usually based on sum of the stocks’ future and current cash flows; To determine the mutual fund value, you can look up its’ net asset value (abbreviated as, NAV). This usually changes on daily basis since mutual funds are comprised of various different stocks; To calculate the certificates deposit value, try using the online CD rate(s) calculator. It combines various factors including the interest value, deposit amount, and the months it’s been set.)

-Include any money that is owed to you when calculating your assets. This can include value of promissory notes or/and agreements you have made.

**Step 2: Calculating The Liabilities**

-Add up total amount you owe in terms of mortgage. That’s the amount you are yet to pay on your house.

-Add up amount of cash you owe in terms of auto/car loan(s).

-Factor in the credit card debt(s). That’s all the money you do currently owe for you to pay off the credit cards. Even though it might be daunting, it’s important you be totally honest when carrying out this step in order to ensure a true and accurate calculation.

-Add up any amount of cash owed in terms of student loans. Ensure you take all loans you owe to account for all schooling that’s not yet been fully paid for.

-Include any other types of loans you owe. This can include any groups, people or corporations you owe unpaid loans. Include any other miscellaneous debts as well.