PersonalFinanceLab: Understanding Your Net Worth in the Budget Game

The Budget Game is an interactive simulation designed to teach personal finance and money management skills to K12 students. In this tutorial, you’ll learn how to calculate your net worth in the Budget Game. What You'll Learn: • How to calculate your net worth using the simple formula: total assets - total liabilities. • Why your net worth might be lower than you think, even if you have a lot of money in your bank accounts. • How to identify and factor in all of your liabilities, including credit card debt and outstanding bills. • Why building your net worth is a crucial objective in the Budget Game.