Net worth is a single most comprehensive gauge of how you are doing financially. Tracking your net worth is like giving yourself a grade every month and helps keep your spending or savings for the month accountable. Calculating net worth is essentially synthesizing all aspects of your personal finances into a single number. To calculate your net worth, take every asset you can possibly think of and subtract all the various sources of debt, and there it is a number in black and white. Monitoring your progress (or lack of it) is especially important during challenging times like these.