Net worth
Everything you own minus everything you owe. It is a snapshot of your finances on one day.
To find your net worth, add up your assets, like cash, retirement accounts and the value of your car. Then subtract your liabilities, like card balances and loans.
A negative net worth is common early on, especially with student loans. The number on one day matters less than the direction it moves over months and years. Checking it every few months is plenty.
Example
Assets of $8,000 in savings + $12,000 car value = $20,000. Liabilities of $15,000 student loan + $3,000 credit card = $18,000. Net worth is $20,000 − $18,000 = $2,000.