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, these 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. The total net worth is measured as a percentage of net disposable income.
Purchasing power parity
[edit]The United States Census Bureau collects uniform data on household income since the 1960s.[1] The United States Census 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, in United States dollars at current purchasing power parity.[3]
Household wellbeing
[edit]The household net worth can be assessed by taking into considerations 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.