How to Track Your Networth

[Nomad]

Your networth means your total financial value. You can know your networth through net worth tracking, which means knowing how much you truly own. Your net worth is total assets –minus total liabilities. Assets include things like cash, real estate, crypto, or stocks. Liabilities include loans and unpaid bills. If your networth is in minus, it means you are poor. Higher your networth, better is your finances.

Is your networth positive or negative?

 

[arunima25]

By God's grace, we don't have any pending loans or debts of any sort. We have paid off and cleared them all. Even our premium payments to policies are done for good and now it's time to get back the benefits. My assets seem to be positive and looking stable for now. Years of hardworking and a good financial discipline has helped.

 

[Starmix]

I am a conservative type, so when it comes to tracking a net worth, I am doing it only minimally. I know what I spend, save, and the assets that I have.

 

[Springtime]

I have a positive network because I own an apartment and have some savings and investments. I do not have any debts.

 

[arunima25]

What I personally feel is that having financial discipline and tracking your finances regularly is a good habit. But not to get too obsessed with it. In the game of number, people set a goal and keep striving for it compromising on so many other things. Just have a balance. Use money to enjoy your life but don't be a spendthrift if you can't afford to. Try to stay away from debts and if you have any , make it a priority to clear it.

 

[Suba]

Currently I have no personal liabilities so there is no reduction to networth, net worth should also be assessed or evaluated at least once a year, because of depreciation in fixed assets such as houses, cars, computers. laptops and others. and more importantly you pay attention to whether your networth always increases every year.