Answer extracted from the Prosperity Podcast with Nicole Bremner podcast — listen to the full episode below.
How should you calculate your net worth and what assets should be included?
Net worth is calculated by listing all assets in one column, all debts in another, then subtracting total debt from total assets. Assets include investments, cash, ISAs, your home, car, gold, Bitcoin, and anything else of value; debts include mortgages, car finance, credit cards, and personal loans—and everything must be valued at what it would realistically sell for within a couple of months.
This three-column system is simple but transformative because it forces clarity. Many people carry financial blind spots, especially when money management has fallen entirely to one partner. As Nicole Bremner explains in the episode, understanding your exact financial position—whether you have £5,000 saved or £100,000 in assets—is the first step toward taking control.
The three-column method: assets, secured debt, and unsecured debt
Column one captures everything of tangible value. This includes your primary residence, investment properties, vehicles, savings accounts, ISAs, stocks, bonds, cryptocurrency, and even physical assets like gold or jewelry if they have resale value. The key is to be exhaustive—every asset, no matter how small, contributes to your total picture.
Column two isolates secured debt: mortgages tied to property, car finance linked to vehicles, and any other obligation backed by collateral. Column three lists unsecured debt—credit card balances, personal loans, overdrafts, and any money owed that isn't attached to a specific asset. This separation matters because it reveals the true structure of your obligations and which debts pose the greatest risk.
The valuation principle is ruthlessly realistic. Don't use the asking price of your home or the original purchase cost of your car. Value each asset at what a willing buyer would pay within two months in today's market. This prevents inflated net worth figures that obscure real financial health.
Why realistic valuation matters more than optimism
Many people overestimate their assets or underestimate their debts, creating a false sense of security. A detailed breakdown reveals whether you are genuinely building wealth or simply carrying liabilities masked by optimistic assumptions. If your home would sell for £300,000 but you have a £280,000 mortgage plus £15,000 in credit card debt, your actual net worth in that domain is only £5,000—a very different picture than the raw asset figure.
This exercise is particularly urgent for anyone who has abdicated financial responsibility to a partner. Completing your own net worth calculation—even once—builds the foundation for financial autonomy and protects you against unforeseen changes in your relationship or circumstances.
"A man or a partner is not a financial plan. Your money is your responsibility. You control it."
Nicole Bremner — Certified Financial Coach & Investor, host of the Prosperity Podcast and author of Bricked It: The story of building and losing a multi-million pound property portfolio. Bremner specializes in helping individuals, especially women, take ownership of their financial lives and build sustainable wealth through clarity, systems, and personal agency.
A curious detail from the episode: Bremner recounts the story of Anya, a successful PR firm founder who has no idea how much her household has saved or where it is invested—a sobering reminder that professional competence in one domain offers no protection against financial blind spots in another. The full episode explores how to break this pattern.
See also
What is the female tax and how does it impact women's long-term wealth building?
The female tax refers to societal pressure on women to maintain expensive appearance standards including hair color and cuts at 200 pounds, botox at 250 pounds, hair removal at 75 pounds, nails at 40 pounds, beauty products at 50 pounds, and luxury handbags at 1200 pounds, all of which compound over time and significantly reduce long-term wealth accumulation.
Why should women maintain financial independence from their partners regardless of relationship stability?
Financial autonomy is essential because relying on a partner leaves you vulnerable to circumstances beyond your control such as infidelity, death, or unexpected changes, and taking responsibility for your own money is the foundation of personal empowerment.
How did the speaker's early career experience in Sydney shape her perspective on wealth accumulation?
Nicole Bremner's first boss in Sydney shared that the first £300,000 Australian dollars was the hardest to make, after which returns came more easily through compound growth and systems, influencing her approach to building sustainable wealth.