When it comes to achieving financial freedom, keeping an eye on your net worth is one of the most important things you can do. Net worth is the difference between what you own and what you owe, and tracking it over time can give you a powerful snapshot of your financial health. But if you’re like most people, you might be wondering what the best tools are to help you do this. Good news—you’re in the right place! Let’s dive into the best tools for tracking your net worth, from mobile apps and spreadsheets to handy products you can find on Amazon that will help you organize your finances like a pro.
Why Track Your Net Worth?
Before diving into the tools, let’s talk about why you should track your net worth in the first place. Monitoring your net worth is essential because it provides a snapshot of your financial progress over time. Whether your goal is to buy a home, pay off debt, or retire comfortably, tracking your net worth helps you understand where you are in relation to those goals. It’s like using a compass to navigate through your financial journey—it lets you know if you’re heading in the right direction or if adjustments are necessary.
Now, let’s explore the tools and techniques that can help make net worth tracking a breeze.
1. Net Worth Tracking Apps
The easiest way to track your net worth is with apps that are specifically designed to pull all your financial information into one place. These apps automatically sync with your bank accounts, investment accounts, credit cards, and even property values to provide a complete overview of your net worth.
Personal Capital
Personal Capital is one of the most popular apps for tracking your net worth, and it’s easy to see why. With this app, you can link all your accounts—from checking and savings accounts to retirement funds and loans—to get a complete view of your financial landscape.
Personal Capital also provides free financial planning tools that help you assess your spending, analyze your investment portfolio, and set future goals. The app’s net worth tracker is visually appealing, easy to navigate, and incredibly detailed.
Key Features:
- Link all of your accounts for a full financial picture.
- Get automated updates on account balances and investments.
- Completely free for basic tracking.
Mint
Another top contender is Mint, a popular tool from Intuit, the makers of TurboTax. Mint allows you to connect your bank accounts, credit cards, loans, and investments in one easy-to-use platform. Mint makes it simple to track your spending and offers insights into how you can save more—all while giving you a snapshot of your net worth.
One standout feature of Mint is its budgeting tool, which helps you categorize your expenses and make informed financial decisions. With automated alerts, it keeps you on track and even warns you of upcoming bills or potential overages.
Key Features:
- Budgeting tools that help manage spending.
- Connects multiple accounts to give a full view of your net worth.
- Free to use and provides real-time updates.
YNAB (You Need A Budget)
YNAB, short for “You Need A Budget,” is a fantastic option if you’re looking for a more proactive approach to money management. While it is a paid app, YNAB offers a comprehensive budgeting system that can help you make smarter decisions, save more, and see your net worth grow month after month.
Unlike Mint and Personal Capital, YNAB focuses on helping you plan for the future rather than simply tracking past spending. If you’re trying to reduce debt and boost savings, this app will encourage you to take a more active role in your finances.
Key Features:
- Proactive budgeting that helps you allocate every dollar.
- Direct sync with bank accounts for real-time updates.
- Great for beginners and financial enthusiasts alike.
2. Spreadsheet Solutions
If you prefer more control over your data or you just like tinkering with numbers, spreadsheets are a great option. The beauty of using a spreadsheet is that you can create something that’s entirely customized to your situation.
Google Sheets & Excel Templates
If you’re comfortable with spreadsheets, Google Sheets and Microsoft Excel both have fantastic templates for tracking your net worth. You can build your own or take advantage of pre-made templates that allow you to input your assets, liabilities, and then calculate your net worth automatically. Excel also has built-in graphing features that let you visualize your net worth changes over time.
You can easily find free templates online or create your own, which is helpful if you have unique financial circumstances or you want to track something specific.
Key Features:
- Fully customizable templates.
- Allows you to create personalized graphs and visualizations.
- Free option for Google Sheets users or for those who have Excel.
Tiller Money
For those who like the control of a spreadsheet but don’t want to spend hours manually inputting numbers, Tiller Money might be the perfect solution. Tiller Money links your bank accounts to Google Sheets or Excel and automatically updates your balances, transactions, and net worth.
This way, you get the power of a customized spreadsheet along with the ease of automation. Tiller also provides pre-made templates for net worth tracking and financial planning, giving you a jump start.
Key Features:
- Automatic updates to Google Sheets or Excel.
- Easy-to-use templates for net worth and budgeting.
- 30-day free trial, then a subscription fee applies.
3. Physical Tools to Help You Track Your Net Worth
If you like keeping things physical, there are also tools that can help you track your financial progress the old-fashioned way. These products, which are popular on Amazon, can help you stay organized and motivated as you work towards financial freedom.
Financial Planners and Journals
Clever Fox Budget Planner is one of the most highly-rated financial planners available on Amazon. This planner offers sections dedicated to tracking income, savings goals, debts, and expenses. It also comes with a habit tracker to help you develop positive financial habits and, of course, a space to record your net worth every month. Many users love the monthly reflection section, which helps them stay on top of their financial goals.
Key Features:
- Monthly tracking for income, savings, and debt.
- Comes with motivational stickers and reflection prompts.
- Helps build healthy financial habits.
Dry Erase Net Worth Trackers
A dry erase financial progress board can also be a great tool for those who want something visible to keep them motivated. You can use a dry erase board to write down your current assets, liabilities, and overall net worth. Placing this board somewhere you see often—like your home office or bedroom—can serve as a constant reminder to keep pushing towards your financial goals.
You can find highly-rated dry erase boards like the Quartet Glass Dry-Erase Board on Amazon, which has a sleek look and can easily be incorporated into your living space. Using a physical tracker is a great way to celebrate every milestone you reach, no matter how small.
Key Features:
- Provides a visual way to track your progress.
- Easy to update and adjust as your financial situation changes.
- Keeps you motivated by keeping your goals in sight.
4. Net Worth Calculators & Websites
Sometimes you just want a simple way to calculate your net worth without downloading an app or setting up a spreadsheet. Net worth calculators can be an easy way to get an accurate snapshot in seconds.
NerdWallet Net Worth Calculator
NerdWallet offers a free online net worth calculator that’s quick, easy, and simple to use. You just have to enter your assets (like savings, home equity, retirement accounts) and liabilities (credit card debt, student loans, mortgage), and the calculator will do the rest.
This is perfect for those of you who prefer not to link your bank accounts to an app but still want a digital option to see where you stand.
Key Features:
- Easy-to-use online calculator.
- Does not require linking accounts.
- Instant results and suggestions for improvement.
Tips for Getting Started with Net Worth Tracking
Tracking your net worth doesn’t have to be complicated. Here are some tips to help you get started:
- Start Small: Don’t feel overwhelmed if you’re just beginning. Your net worth might not be what you want it to be, but the first step is knowing where you stand.
- Update Regularly: Set a schedule for updating your net worth—whether it’s weekly, monthly, or quarterly. Consistency is key to seeing progress.
- Focus on Trends: Remember, your net worth can fluctuate, especially if you have investments. Focus on the trend over time rather than day-to-day changes.
- Celebrate Milestones: As your net worth grows, celebrate the wins! It could be getting out of debt, crossing into positive net worth territory, or reaching your first $100,000 in savings.
Conclusion
Tracking your net worth is a powerful way to stay motivated on your financial journey and see the big picture of your money. Whether you’re just starting out or you’re already well on your way to financial independence, there are plenty of tools—like apps, spreadsheets, journals, and calculators—to help you along the way.
By using the right tools, you’ll be able to set your financial goals and watch your progress over time, which can be incredibly rewarding. Whether you’re using Personal Capital, a Clever Fox Budget Planner, or a simple spreadsheet, the key is to find what works best for you and stay committed. You’ve got this—happy tracking!