Simply put, your net worth is the combination of what you own (Assets) and what you owe (Liabilities). Here are the Quick Reasons to Know Your Net Worth.
Recently I read that the number one characteristic most super successful and productive people possess is that they take action.
Tracking your net worth will place value on growing your net worth, instead of spending money on things that really don't matter.
There are two ways to increase your net worth if you really get down to it: 1. Pay off liabilities 2. Increase your assets
Once you get your money under control and you pay off your debt, now you can start saving and investing like crazy.