73% of People Can't Answer This Simple Money Question—Can You?

Sophie Miura

It's not always easy to stay on top of your finances, but according to a Harris Poll study, there's one money question that stumps the vast majority of millennials: What is your net worth? Researchers found that a whopping 73% of people ages 18 to 34An had no clue what assets they have versus what they owe—a total shock to money expert Stefanie O'Connell.

"[It's] kind of crazy when you consider that your net worth is the single most comprehensive metric for tracking your financial health," she says in a post on her site. Alexa von Tobel, founder and CEO of LearnVest, says it's an important stat to know, even if you don't consider yourself wealthy. "There's a net worth misconception. When people hear the term, they tend to picture billionaires, but in reality, it doesn't have to do with being wealthy—it has to do with tracking your financial health."

So what actually is net worth, how do you tally yours, and, most importantly, why does it actually matter? We tapped von Tobel to demystify this crucial money metric.

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