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Video - Money: Know It to Grow It - Net Worth

Written by Synchrony Staff

Published Sep 26 | 1 minute read

Money 101

Transcript:

Net worth is a way to help measure your financial health.

How to determine your net worth.

Net worth is calculated by adding up all the items of value you own, called assets…

…and subtracting all the debts you owe, called liabilities.

Have more in assets than liabilities? Then you have a positive net worth.

If you have more in liabilities than assets, you have a negative net worth.

By using net worth you might find you're in better financial health than others around you.

What is the median net worth?

In 2023, the median net worth, or the middle point of all people in the US, was $121,700*.

Saving and the right planning could help you achieve that net worth and more.

So that's net worth. Find more ways to know and grow your money at Synchronybank.com.


READ MORE: Video - Money: Know It to Grow It - IRA

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Synchrony Staff

This article contains contributions from multiple staff members for the Synchrony blog.

*The information, opinions and recommendations expressed in the article are for informational purposes only. Information has been obtained from sources generally believed to be reliable. However, because of the possibility of human or mechanical error by our sources, or any other, Synchrony does not provide any warranty as to the accuracy, adequacy or completeness of any information for its intended purpose or any results obtained from the use of such information. The data presented in the article was current as of the time of writing. Please consult with your individual advisors with respect to any information presented.