by Matt Jones, CPA

Net Worth is the simplest way to understand wealth and build it.

This is the strategy I’ve used since 2014 to follow my financial progress. I recommend tracking your Net Worth each month too. The free tool below will help you get started. You can begin wherever you are: in college, just graduated, working for years… Start now!

I’ve included an example in the tool. If it doesn’t make sense right away, don’t give up! Reach out to me with questions, work through the tool to understand how your spending and saving affect your wealth. Once you have this set up, it should take no more than 30 minutes each month to track your progress, give you some peace of mind, and know exactly whether you had a good or bad month.

It’s NEVER too early to start tracking and avoid BIG mistakes.

What is Net Worth? The common definition is assets minus liabilities… but, I’ll simply call assets “positives” and liabilities “negatives”. Download the tool below, read the Net Worth Primer. Then check out the resources page for more.

If personal finance were a sport, saving and budgeting is how you’d “score points”, but Net Worth is how you’d keep score. How are you supposed to win if you don’t know how to keep score? This tool helps you to track your progress and achieve your financial goals.

Instantly know if you had a “good” month financially — Net Worth increased — or need to adjust your budget — missed your Net Worth target.
-Track what caused your success or shortcoming and plan for upcoming months.
-Maintain all of your accounts in one place so you never lose track of a balance or bill.
-Track how many months away from “Net Worth Zero” you are.
-This process if manual on purpose: automated tools don’t teach you WHY your finances improved or got worse or WHAT impacted them.

With this system, 30 minutes each month is all you need to move toward wealth.

Have questions? Click the link in the spreadsheet to send me a note or email me at Matt@MattJones.Money

Join the discussion at www.reddit.com/r/TrackNetWorth/

Get the free Net Worth Budget and start tracking your Net Worth today.

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Net Worth Budget

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