Free Net Worth Tracker to Snapshot Your Financial Health
A net worth tracker is a simple tool that shows you exactly where you are. Think of it as a snapshot of your financial health. Without tracking your numbers, it’s hard to know if you’re in good shape.
In my life, the net worth tracker has been the ONE guiding document I’ve used to make the biggest financial decisions! Why? Find out below.
Benefits Of A Net Worth Tracker
- You see your financial situation at a glance. My net worth tracker isn’t complicated and numbers don’t lie. Is your money growing or shrinking? It’s easy to see.
- It enables you to make better day-to-day decisions. Should you pay off debt or put more in savings? Is your bank account smaller than you thought? You can break down how daily living affects the whole picture.
- It allows you to set clear financial goals. You can clarify the next big milestones in your financial journey. You’ll be able to set realistic targets and hit financial milestones at a record pace.
- You consistently look at your accounts. Online security is a risk for us all. But if you are tracking your net worth, you will check your accounts often enough to notice anything shady that might pop up.
What’s net worth?
It’s the difference between your assets and liabilities.
Assets – Liabilities = Net Worth
A positive net worth means you own more than you owe. A negative net worth indicates that your debts outweigh what you own. Tracking your net worth isn’t just about seeing a number; it’s a strategic way to identify financial progress. Regardless of where you start.
What are assets?
Assets are anything you own of value. These could be cash and savings, but they might also include:
- investments (like stocks and bonds)
- retirement accounts
- real estate
- personal property such as vehicles and jewelry
If you include cars, home, and jewelry in your net worth tracker, record the current market value (which probably won’t be what you bought it for).
In my spreadsheet, I include a current estimate of our cars, equity in our home, all bank account and investment balances, and even the HSA balance.
What are liabilities?
Liabilities are any debts you have. This includes mortgage loans, student loans, credit card balances, and personal loans.
Pro Tip: When listing your debts, it can be helpful to jot down the interest rates and due dates, so that you see them at a glance too.
Related: Free Debt Payment Trackers
Update Consistently Over Time
I like to update the net worth tracker when I do my monthly budget check-in. But do what works for you! What’s important is that you are consistently tracking your financial situation.
By keeping records current, you can make the best decisions for yourself and your family.
Pro Tip: You can also try an app to track your net worth. The best net worth trackers are user-friendly, secure, and give customized recommendations.
Setting Up Your Millionaire Net Worth Tracker
Copy the free net worth tracker on Google Sheets below. Then, get started inputting your numbers 🙂
*The free digital tracker will compute your net worth as you input your numbers.
See the Free Net Worth Tracker Here >>
*There’s also a space to record your goals on this sheet!
Whether you’re seeking to grow your savings, reduce debt, or plan for retirement, utilizing a net worth tracker can be pivotal in achieving your financial goals.
Note on Security: Unless you use a very secure app, it’s best not to put any login or sensitive information on your online tracker.
What’s Next?
Learn more easy ways to give your financial future a boost!
- Creative Ways to Save While Improving Your Life
- Ask Yourself the Right Financial Questions
- Create a Budget: Try the 70 20 10 Rule
- Hidden Frugal Habits of the Ultra-Rich
And don’t miss the Wealthy Woman newsletter. You’ll receive ongoing inspiration to take your money game to the next level!
Should you track your net worth?
Heck yes!
