Calculate Your Net Worth
Track your financial health by adding up all your assets and subtracting your liabilities
Assets £0
Liabilities £0
Average Net Worth by Age in the United Kingdom
Age Group | Median Net Worth | Average Net Worth |
---|---|---|
Under 35 | £24,500 | £92,800 |
35-44 | £128,900 | £308,600 |
45-54 | £278,100 | £541,200 |
55-64 | £416,700 | £785,900 |
65-74 | £385,900 | £709,700 |
75+ | £298,500 | £577,300 |
Source: Office for National Statistics - Wealth and Assets Survey (most recent data)
Tips to Improve Your Net Worth
- Pay off high-interest debt first - Focus on credit cards, overdrafts and payday loans.
- Build an emergency fund - Aim for 3-6 months of expenses in an easy-access savings account.
- Maximise pension contributions - Take advantage of employer matching and tax relief.
- Use ISA allowances - Maximise your annual £20,000 ISA allowance for tax-efficient investing.
- Increase your income - Develop skills for career advancement or start a side business.
- Create a budget - Track spending and find areas to save more money.
Understanding Your Net Worth
What Is Net Worth?
Net worth is the difference between what you own (assets) and what you owe (liabilities). It's a snapshot of your financial position at a specific point in time.
About Assets
Assets are things you own that have monetary value. They include cash, investments, property, and personal possessions that could be sold for cash.
About Liabilities
Liabilities are debts or obligations you owe to others. These include mortgages, loans, credit card balances, and any other forms of debt.
Why Track Net Worth?
Tracking your net worth over time helps you measure financial progress, identify areas for improvement, and make better decisions about saving, spending, and investing.