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Tracking Your Net Worth

Hello Readers,

Do you track your net worth?


Much like tracking where my money is going, I find it even more satisfying to track how my money is growing. If you're regularly investing in the stock market (and you should be), there's a good chance your net worth is growing faster than you realize.


Your net worth should include at least the following:

  • Bank Accounts -- checkings and savings

  • Investments -- retirement and brokerage accounts, dividends

  • Unsecured Debt - credit cards, student and personal loans, payment plans and bills

  • Secured Debt - car loans, yacht loans, mortgages

You may have other assets or liabilities to incorporate. Since I paid for my car in full, I've added its Kelly Blue Book price listing to my net worth.


As told in an earlier post, I once again am super granular with my Excel spreadsheet. I catalogue it at the same time I track my monthly spending so I can see how things shake out every month.


Yes, there are digital tools that exist to help you do this, and plenty have the "set it and forget it" feature. While this works for many, the manual task keeps me grounded.


Do you keep an eye on your net worth?


Happy savings,

Lady

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