How to create a personal asset registry
Updated: Dec 1, 2021
Everyone wants to be organised, especially our financial information.
Most of us start with a simple spreadsheet, but quickly realise that different assets come with different information requirements. That’s where vaultbox can help.
Our free asset registry template leads you through the process of creating your own asset registry, with customised tabs for each asset and liability category, and the ability to link relevant entries. Its free to use. And once you’re finished, your information is ready to seamlessly upload into your vaultbox account.
Try the vaultbox 30-day free trial, no payment information required.
Creating and maintaining your personal asset registry can be intimidating, time-consuming, and frustrating. For example, your checking account may only need a bank name, account number and balance. Your home, on the other hand, is very different, with many related assets and liabilities, like a mortgage, taxes, and insurance. In spite of the hassle, the effort will pay off when you begin financial or retirement planning, need to file taxes, or make an insurance claim. It’s also the first step in estate planning – planning for the time when you become incapacitated and after death.
There are several ways to keep track of your personal asset registry. To begin, you can do it the old-fashioned way, by physically writing things down in a notebook. Second, the most frequent form of keeping records is through an electronic spreadsheet, which is both convenient and simple to update.
Finally, you may utilise trusted digital asset organising software like vaultbox to keep all of your vital financial information safe in one place and delegate access to professional deputies or trusted individuals as part of your legacy management.
Identifying your asset types
To create a complete, accurate, and comprehensive list, you must first identify your fixed, financial, and digital assets. Fixed assets are tangible assets that you own, such as your home (HDB, condominium, landed), vehicle, jewellery, and valuable pieces of art. Cash, bank deposit accounts, insurance policies, stocks, bonds, funds, and loans are all examples of financial assets. Digital assets are your cryptocurrencies, photos, videos, and key documents. The free vaultbox asset registry template provides separate tabs for each major asset type.
Getting started with your personal asset registry
The free vaultbox asset registry template contains multiple tabs, each corresponds to a type of asset or liability. Instead of scratching your head to figure out what information is needed, let the customised tabs and sample data identify the needed information. For example, the cash tab prompts you to include balance amount, asset currency, bank, account number and references.
Using a template that has all of the fields pre-populated makes the process of building your personal asset register easy.
Uploading the spreadsheet into vaultbox
Now that you've organized all of your personal assets in a spreadsheet, you can use vaultbox's free 30-day trial to upload your spreadsheet and try out many other essential vaultbox features. Before you upload the file, be sure to remove the sample information provided, as well as any irrelevant tabs. Once you have uploaded the excel file onto vaultbox, your assets and liabilities will be instantly reflected.
vaultbox allows you to organise and protect all your financial information in one place - from keeping track of your net worth to storing all your personal information including assets/liabilities, supporting documents (such as wills, life insurance policies, medical records, title deeds, identification documents), and key contact information in a bank-grade digital safe.
One unique feature that differentiates vaultbox from other products is the capability of users to link assets, liabilities, documents, contacts, and calendar to get a complete picture of the information. This eliminates fragmented files in different folders without any linkages and connections to one another.
Why use vaultbox?
Having a safe and easily accessible platform for all your important information has never been more important and vaultbox can solve some of your issues, if not all!
vaultbox provides a digital solution for financial and legacy planning. We strive to help you manage and protect everything that matters in one place. vaultbox also ensures that your data is secure and private, so private that even we do not have access to the data you have stored on your vaultbox. However, if you want, you can choose your family members, friends or appoint selected professional deputies to have access to your vaultbox account.
vaultbox also helps users accurately track their data with reports right at their fingertips. vaultbox’s automated reporting and analysis features enable you to monitor your progress towards your financial goals holistically. These auto-generated reports are reliable, precise and can be presented as an easy-to-understand summary with useful graphic formats.
Try vaultbox now for free with a 30-day trial.