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I track my Net Worth using a spreadsheet. Specifically, Google Drive, because I can access it on my phone. But in the future, I will probably transition to tracking it using Personal Capital. I recently started using it and have been pleased with it.
I use a Google Sheet also!
Specifically I use Tiller (Tiller is a tool that pulls your bank transactions into a Google Sheet.)
I use the same Google Sheet to track spending, budget, work a debt snowball and track my net worth. Then I double check our net worth with PC.
Can I use my combined NW with fiance now? :). I guess we aren’t married yet tho. Big jump in NW.
Dang Derek! You got quite the complex operation going there. Sounds awesome.
I use google sheets too. I created a sheet that has tabs for each year and then a dedicated tab for each month which has more detail, graphs etc.
I track net worth but also investible assets which is more important to me as that is the number which will determine FIRE.
The great thing about tracking net worth is that I never want the number to go down, so it really does focus the mind on any expenditures each month.
Got mine all updated, fresh today,
I have never heard of Tiller, I will check it out!
It’s not nearly as complex as it probably sounds!
I hear ya. You can’t really buy food with your ‘net worth’ only with the money that it actually earns for you. Sure, you might be able to dip into some of the cash, but what’s more important is (as you suggest) ‘how much money does my money earn’??
Let me know what you think.
And if you are interested in becoming an affiliate I can hook you up!
I use mint to put all my accounts in one place and to categorize transactions. Then I move that data into my google spreadsheet and track it there month to month. Been tracking since 2010!
I track my net worth because it tells a story about how we are doing with our money over the longer term! I think that small wins done over a longer period can build up to something very big! In our case this has led to an over 500% growth in our net worth since 2010!
I update them publicly and just posted my latest update here:
Speaking of monitoring your net worth, how does an irresponsible blogger update their net worth on the net worth tracker?
Asking for a friend… I lied I’m asking for me.
I started tracking my net worth a year and a half ago after finishing graduate school. For me it automatically came hand-in-hand with budgeting and making sure my finances were moving in the right direction and at the right pace. I live in a city with a high cost of living, and my first year in the real world was hard on my initial salary. I’ve since been promoted and I’m pretty proud of how I’ve done so far.
I use Quicken.
I do a rough estimate every month or so by checking my brokerage and bank accounts and my home value, which I base on comps. I love to see the number grow, but during times of economic downturn I just keep saving and try NOT to look at the balances.
Took a quick look at it. Looks good! I like the concept.