Military Education Department
Personal Financial Management (PFM)

Net worth measures the difference between what you own and what you owe. Knowing your net worth is part financial fitness checkup (how you are doing now?) and part financial planning tool (how your future looks?). As long as your assets are more than your debts, you have a positive net worth.

Knowing your net worth helps you see if debts are in line with assets, if investments are growing, and even if you need more insurance to protect your assets.

Assets (What you own)	Liabilities (Debts)
Mortgage (Estimated market value)	Mortgage Principle (amount of principle you still owe)
Cash (CDs, Money Market)	Credit card debt (balance due on all credit cards)
Cars - (blue book values of all cars that you own).	Car Loans (ie boats, RV, motorcycle)
Other vehicles (ie a boat, RV, motorcycle, etc.)	Student Loans (amount owed on any educational financing)
Jewely, Art, Collectibles (estimate amount if sold today)	Other Loans (ie furniture, etc.)
Special items (Cameras, computers, etc.)
Furniture and household items (value of your furniture, appliances, electronics, etc.)
Checking and savings accounts (current balance)
Retirement accounts (value of all 401(k) plans, IRAs, etc.)
Savings bonds
Mutual funds
Stocks
Life insurance (cash value)
Other (anything else you can think of that has value if you were to sell it)

	Press Button for yor networth	Start new calculation


	Asset Total

	Liability Total

	Net Worth

Note: These calculations are estimates and are only provided to give you some general guidelines , although we believe the calculations to be correct, we do not guarantee the results. For more information or assistance with your personal finances, Please consult your financial advisor or lending institution before making any final financial decisions.

Top of Page
(PFM) Home Page

Assistance

Counseling

If you have questions or need assistance after graduating from the SDCC Military PFM course contact one of the counselors listed below:

Army - E-mail

Anthony Powell – Ft. Bliss, TX
Wk Ph: 915-568-4453,
DSN: 978-4453
Email: anthony.powell1@us.army.mil

Navy - E-mail

Mike Kempf – Pensacola, FL
Wk Ph: 850-452-3228,
DSN: 922-3228
Email: mikekempf@bellsouth.net

More information

New Links 10-21-2008

Calculators

Glossary

Common terms in financial planning

General Information

SDCC has articulated the Navy PFM course for one college credit. Navy personnel who have graduated from the Navy PFM course qualify. Typically, it can be difficult to apply one credit and meet the requirements of a three credit semester long course at most colleges and universities. With that in mind, we have taken the initiative of developing a two credit online course that will be available upon completion of the Navy PFM course. Sailors who have completed the requirements of both the Navy PFM course and the online PFM course will be given credit for completing the three credit Consumer Studies 110 course offered by San Diego City College and Mesa College and transferable to any Servicemembers Opportunity College (SOC).

For additional information or to see if you qualify contact a PFM counselor.

Military Pay Chart - 2008 3.5% Pay Increase

E-mail the Webmaster
Michael Steffens
Phone: 847-746-2790
Fax: 847-746-2791

Military Education Department Personal Financial Management (PFM)

PFM Contact Information Darrell Himmelspach dhimmels@sdccd.edu Phone: 847-746-2790 Fax: 847-746-2791

Program Managers

How is your financial fitness?

You can find out by taking the quizzes below Financial Fitness Quiz or Financial Fitness Checkup

Topics

Additional Course Information

Net Worth Calculator