Do You Track Your Net Worth?

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You probably (hopefully) track your budget every month, but your net worth doesn't need quite as much attention. It's still a good idea to keep an eye on it. Do you do it?

Personal finance site Super Millennial suggests that tracking your net worth every month is necessary to maintain perspective of your financial goals. You may be stretching your budget thin this month, but if you can see that your net worth has increased over the last year, then you can feel assured that you're on the right track.

Super Millennial offers a handy spreadsheet at the source link below (pictured above) to track your net worth or just a piece of paper. The Super Millennial spreadsheet does list things that are US-centric but it's not hard to adapt it so long as you follow the basic principle of writing down all your financial assets an liabilities. We want to know, do you track your net worth? If so, how often do you do it? How has it changed how you view your finances?

How smart are you with your money? [Super Millennial via Rockstar Finance]


Comments

    Yep, I send my wife a summary of our finances monthly via email, formatted nearly the same way as it has been for about a decade. It's useful to see snapshots of our savings and investments through time. Frankly, sometimes you feel like you've slowed down a bit... it's good to be able to say, "Well, it looks like this time last year we slowed down a bit. We're still up by $X since then."

    Yeah, I have all my finances on NAB. I click on Net worth once a month. Keeps me on track, Amazing on how few clicks on the button it takes to stop losing 0.25% a month to gaining 2.25% a month.

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