Net Worth is the simplest way to understand wealth and build it.
This is the tool I’ve used since 2014 to track my own Net Worth and it’s yours for free. I recommend tracking your Net Worth every month. The free tool below will help you get started. You can begin wherever you are: in college, just graduated, working for year… 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.
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”. Read the Net Worth Primer. Then check out the resources page for more.
Other authors claim to help with personal finances and budgeting… But, they don’t explain how to track your progress.
If personal finance were a sport, your budget 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 template allows you to track your progress and, more importantly, 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.
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.