So you’re wondering what your net worth is. Your net worth is essentially everything you own minus everything that you owe. So if you have $10,000 in savings and you owe $5,000 in credit card debt that in reality, your net worth is only $5,000. What you own minus what you owe if your net worth.
Estate planning is the act of planning your estate, i.e. what happens to your property after you die and who cares for your loved ones. With an estate plan, you get to say who gets what, when they get it, and who should look after the ones you care for when you are gone.
Having a will is part of an estate plan, but it is not the only part]
Loan consolidation can simplify your finances in the short term, but may complicate things in the long term. If you consolidate your loans your loan term may be (probably will be) extended. What this means is that although your monthly payments are lower, you may end up paying more interest in the long run.