Most people who want to know how to figure out my networth do not need an app with a subscription. A spreadsheet is enough, and building it yourself has a bonus: you will understand every number. This guide gives you the layout, the formulas and a short routine for keeping it up to date.
Set up the sheet
Open a free spreadsheet in Google Sheets or Excel and create two tables on one tab: one for assets and one for liabilities. Give each table the same five columns.
- Item. The name of the account or asset, such as “Checking” or “Car loan”.
- Type. Cash, investment, retirement, property, or debt.
- Value. The current balance or estimate.
- Source. Where the number comes from, such as a statement or an online estimate.
- Updated. The date you last checked it.
The formulas
You need only three. In the assets table, add a total with a sum formula over the value column. Do the same for liabilities. Then in a separate cell, subtract the liability total from the asset total. That result is your net worth. Label it clearly and put the date beside it.
Optional: break it down by type
Use a conditional sum to see how much of your wealth is in cash, investments, retirement accounts and property. Seeing the split helps you notice if everything is tied up in one house or one stock.
Gathering the numbers
Log in to each account and copy the balance. For a home, check recent sales of similar properties nearby. For a car, use a used-price guide. For loans, use the payoff balance, which is usually a little different from the statement balance because of interest.
How to figure out my networth month after month
- Create a new column for each month, or copy the sheet to a new tab with the date as its name.
- Update the balances that change, such as cash, investments and loans. Property and cars can be updated twice a year.
- Record the new net worth and compare it with the last one.
- Add a one-line note on what changed, such as “bonus paid” or “car repair”.
Add a chart
A simple line chart of net worth over time is the best motivator. Select the dates and the totals, and insert a chart. When the line goes up, you will see why. When it dips, the notes tell you the cause, and you can decide whether to worry.
What to keep out
- Items you would never sell, such as everyday furniture and clothes.
- Money you expect but do not have, such as a hoped-for inheritance.
- Rewards points, unless you plan to cash them in.
Keep it safe
Do not store passwords or full account numbers in the sheet. Use a password manager for logins, and keep the file in a private folder. If you use an online spreadsheet, turn on two-factor authentication for the account.
A sample row set
A starter list might read: checking account, savings account, brokerage account, retirement account, home value, car value, then under liabilities: mortgage, car loan, student loan, credit card. That is ten lines, and many households can finish the whole sheet in about thirty minutes the first time and ten minutes each month afterwards.
Our simple guides on how to find your net worth in four steps and how to determine your net worth when assets are hard to value go deeper on the numbers, and the page on what counts as a good net worth shows how to read the result. Google’s own help page explains basic formulas at support.google.com.
Troubleshooting common problems
If your number looks wrong, check the signs first: a debt entered as a positive number is the most common error. If your total jumps unexpectedly, look at the largest line, which is usually the house or the retirement account. If you share finances with a partner, decide whether to track the household together or separately and keep to that choice, so the trend line stays meaningful. And if you find the process stressful, remember that the goal is information, not judgement.
Final word
Now you know how to figure out my networth with a spreadsheet: two tables, three formulas and a short monthly habit. It costs nothing and gives you a clear view of your finances.
General educational information, not personal financial advice.
