Many people don’t think about their net worth very often. You probably already know that financial stability is increased with a higher score.
You can calculate your net worth by subtracting your assets from your liabilities. You own a home worth $350,000 and have savings of $20,000. You also owe $200,000 on your mortgage and $5,000 on your personal loan. You would have a net worth of $165,000 at that point.
It is good to see your net worth rise, but will increasing your net worth affect your credit score?