The left side of the balance sheet includes your assets—those items that you own and are trying to protect. Assets can be divided into tangible (convertible to quick cash) and intangible (real property). Examples of tangible assets include case (either on hand or in bank deposit accounts), jewelry, automobiles, furniture, investments, etc.; examples of real property include a home or other real estate. Liabilities, on the other hand, are what you owe to creditors. The largest liability for most families is the mortgage, with auto and student loans following. An alarming percentage of the liabilities are made up of payments on their revolving credit card line—credit card debt averages over $5,000 for 24 – 35 year olds in the U.S. (source: Kiplinger’s Personal Finance magazine; February 2007). After filling in the blanks, subtracting liabilities from assets, this exercise will provide you with your personal net worth.