Companies keep two reports: one says whether this month was good, the other says whether they would survive a bad year. Most people only ever look at the first, which is income minus spending. This is the second one.
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Net worth is simply what you own minus what you owe, at a point in time. Use realistic resale values rather than what you paid, particularly for vehicles. This does not value pensions, expected inheritances, private business equity beyond what you enter, or deferred compensation, and it ignores the tax you would owe on selling appreciated assets or withdrawing from retirement accounts, which means the figure is a gross rather than an after-tax number. For general information only.