Household net worth
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Household total net is the net worth for individuals living together in a household and is used as a measure in economics to compare wealth. The household net worth is the value of total assets minus the total value of outstanding liabilities, which are current obligations of a household arising from past transactions or events.
Disposable income
[edit]Household financial net worth is the balancing item of their financial balance sheet recorded at current market values. Total net worth is measured as a percentage of net disposable income.
Purchasing power parity
[edit]The United States Census Bureau has collected uniform data on household income since the 1960s.[1] The Bureau undertakes an annual Current Population Survey (CPS) and publishes detailed information on household income.[2]
The financial net worth of a household is calculated as the ratio of financial net worth of households divided by the number of individuals in the country, expressed in United States dollars at current purchasing power parity.[3]
Household wellbeing
[edit]The household net worth can be assessed by considering factors that contribute to the household wellbeing, such as access to finance, debt default, and measures of economic security.[4]
Top 10 countries with largest household net worth
[edit]| Household net worth Source: OECD[5] | ||
|---|---|---|
| Country | % of net disposable income, 2017 | |
 Belgium |
699.4 | |
 Netherlands |
687.9 | |
 United States |
683 | |
 Canada |
585.1 | |
 Denmark |
582.8 | |
 Sweden |
578 | |
 France |
553.7 | |
 United Kingdom |
499.9 | |
 Germany |
468.9 | |
 Austria |
444.1 | |
 Australia |
434.3 | |
 Luxembourg |
423.7 | |
 South Korea |
365.5 | |
 Czech Republic |
349.3 | |
See also
[edit]- High-net-worth individuals
- List of countries by wealth per adult
- National wealth
- Ultra high-net-worth individuals
References
[edit]- ^ Deirdre Pfeiffer; Markus Moos; Tara Vinodrai, eds. (2017). The Millennial City: Trends, Implications, and Prospects for Urban Planning and Policy. Taylor & Francis. p. 41. ISBN 9781351805384.
- ^ Edward N. Wolff (2006). International Perspectives on Household Wealth. Edward Elgar Publishing. p. 1. ISBN 9781847203175.
- ^ "Is Your Net Worth Higher Than Average?". Forbes. August 15, 2018.
- ^ Deirdre Pfeiffer; Markus Moos; Tara Vinodrai, eds. (2017). The Millennial City: Trends, Implications, and Prospects for Urban Planning and Policy. Taylor & Francis. p. 41. ISBN 9781351805384.
- ^ "Household net worth 2017". www.data.oecd.org. Retrieved June 19, 2019.
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