How To Create A Balance Sheet

How do I create a "balance sheet"?

Individuals can make a simple balance sheet for themselves showing how much cash they have, how much money they have in certificates of deposit or savings accounts, money market funds, mutual funds, and what the value of their home is, what the value of their car is. If they have a business, try to estimate the value for the business. That's one side of the ledger on the balance sheet: the accumulation of the assets. On the other side would be the liabilities. What is your credit card debt? How much do you owe on your car? Do you have a home mortgage? Add all of these liabilities up and then you subtract the total of the liabilities from the total of your assets, and that will be your net worth.