Net Worth Tracking
Track assets and liabilities to measure financial progress and understand how everyday decisions affect long-term wealth.
What Net Worth Tracking gets you.
By the end of this upgrade, you will have calculated your current net worth and set up a system to track it consistently over time.
- Balances for all bank and investment accounts
- Current loan and credit card balances
- Estimated value of major assets (home, vehicle)
- A spreadsheet or net worth tracking app
Run the upgrade.
- 01
List all assets
Record balances for cash accounts, investment and retirement accounts, and fair-market estimates for major property like a home or vehicle.
- 02
List all liabilities
Record balances for credit cards, loans, mortgages, and any other money owed.
- 03
Calculate net worth
Subtract total liabilities from total assets to get a single net worth figure.
Net worth = total assets - total liabilities
- 04
Set up a recurring tracking sheet
Create a simple spreadsheet or app entry with a column for each month so you can see the trend over time, not just one snapshot.
- 05
Set a check-in reminder
Schedule a recurring reminder to update balances and recalculate net worth on a consistent date each month.
- All assets and liabilities are listed with current balances
- A single net worth number has been calculated
- A recurring tracking sheet exists with at least one entry
- A recurring reminder is scheduled for future updates
Monthly
- Update account balances and recalculate net worth
- Note what drove the biggest changes since last month
- Adjust savings or debt paydown plans based on the trend