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All About the Net Worth Calculator

If you need an efficient and effective way to track and measure your net worth over time, the check out the Spreadsheet Life Net Worth Calculator!

What Does This Spreadsheet Do?

The Net Worth Calculator simply helps you to calculate your net worth. (An enlightening sentence if I’ve ever written one.)

This spreadsheet allows you to enter in all of your assets (things that add to your net worth) and all of your liabilities (things that subtract from your net worth) into one place.

Then it will immediately calculate your net worth for you!

Net Worth = Assets - Liabilities

Why Is This Important?

Being able to calculate your net worth is important for a few key reasons:

  • It gives you a realistic picture of where you stand financially
  • It helps you to review and organize all of your financial resources
  • It allows you to measure your financial progress over time

Let’s take a closer look at each of these points.

It Paints a Realistic Picture

Being able to capture a realistic picture of where you stand is the first step in moving forward.

After all if you don’t know where you currently are, it’s almost impossible to figure out how to get anywhere else.

Probably even more important is that recognizing the truth helps motivate you to do something about it.

If you are doing poorly, the truth can motivate you to improve or to do better. If you are doing great, you just might find the motivation to do more.

In either situation, discovering the truth allows you to better your future.

It Helps You Review and Organize Your Financial Resources

In today’s world, money is all over the place.

It’s not all that uncommon for someone to have multiple bank accounts, several retirement funds, and investments scattered galore. On top of all that, multiple forms of debt and liability can exist as well.

With all of these financial devices floating around in your life, it’s not a bad idea to get it all organized.

This is where the Net Worth Calculator can really help you.

This tool allows you to log each and every one of your assets and liabilities, and it will also log the date that each was last updated. Plus, having all of your financial resources listed in one place will keep you from constantly having to guess where all your money happens to be.

It Measures Your Progress Over Time

Measuring your progress or performance over time is one of the best things you can do for your financial future.

If you are headed in the wrong direction, you will never actually get to where you want to go. If you’re headed in the right direction, you at least have a chance to reach your destination.

Knowing your direction is important, but gauging your speed holds its own weight too.

If you are headed to the top of the mountain, but you’re climbing at a snails pace, you may never get there in a single lifetime. Knowing how fast you’re going is the best way to determine if you need a speed boost.

The great news is that The Net Worth Calculator can help you identify both your speed and direction.

The “History” chart captures your financial performance each day that you make an update.

Net Worth Calculator - History Page

This allows you to easily see if you’re headed in the right direction in the first place. Not to mention being able to identify your exact speed as well.

Moreover, if you’d like a more bird’s eye view of your financial progress, the “Dashboard” pages helps you see just that.

Net Worth Calculator - Dashboard Page

You can quickly identify your overall direction and relative speed with just a single glance. You also get a super clear snapshot of where you currently stand.

The Net Worth Calculator is a powerful and important tool to have in your financial arsenal. Who knows? It may be just what you need to make it to the top of your own financial mountain!

 

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