Track Your Net Worth
It is essential you track your net worth on a schedule. Use this app to help track your net worth over time.
Tracking your net worth is a useful way to monitor your financial health and progress over time. To calculate your net worth, you need to determine the value of your assets and subtract your liabilities. Here’s a step-by-step guide:
- List your assets: Write down all of your assets, including savings and checking accounts, investments, real estate, and any other valuable items you own. Be sure to include the current market value of each asset.
- List your liabilities: Write down all of your debts, such as mortgages, car loans, credit card balances, and any other outstanding debts.
- Calculate your net worth: Subtract the total of your liabilities from the total of your assets to determine your net worth.
It’s important to regularly track your net worth so that you can monitor your progress and make changes to your spending and saving habits if needed. Keeping a spreadsheet or using personal finance software can make it easier to track your net worth over time.