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How to track your net worth

Updated: May 21


how to track your net worth

Tracking net worth is one of the most important financial metrics anyone can perform. By comparing all the assets and liabilities you have acquired and accrued to date, net worth represents the sum of your financial life.


For long-term financial planning, it is imperative that you start formulating your financial and retirement goals early. Tracking your net worth is one way to ensure that you are staying accountable to your financial plans.


Why track your net worth with vaultbox?


vaultbox can do more than just tracking your net worth over time, it also systematically shows your day-to-day and month-to-month progress. Tracking your net worth with vaultbox is an easy step to improve your financial health. vaultbox allows you to organise and protect all your financial information in one place - from keeping track of your net worth to storing key documents and contact information.


vaultbox also provides excellent tools for evaluating investments and managing your budget - standard reports include balance sheet reports, graphic representations of net worth positioning over time, and pie charts showing the allocation of your net worth across different asset classes and currencies.


vaultbox also supports bulk uploading of financial information, which is covered in other articles.


Organising your assets


Select from the pre-defined asset classes. Simply complete the necessary fields – which are customised for each asset class. Mandatory fields are marked with an asterisk (*). For each asset class, you are able to add references, upload related documents such as bank statement for cash in a bank account or insurance policy document for the insurance asset class, and input relevant contact persons associated to that particular asset. For example, you can input your bank relationship manager’s contact details and tag them to your cash asset. To easily locate documents and contacts stored in vaultbox, simply use the “+” button on the right bottom corner to locate them.


Keeping proper records of your liabilities


Inputting your liability details is equally easy as inputting your assets. Similar for assets, you can add relevant references, upload documents and contact details related to your liabilities and tag them together so they can be easily retrieved. One interesting feature of vaultbox is that you can link assets and liabilities together. This is particularly useful when you want to link a property with a mortgage loan, a car with a car loan or a brokerage account with a credit facility.


vaultbox also supports bulk uploading of financial information, which is covered in other articles.


What's your net worth?


Once you have entered all your assets and liabilities onto vaultbox, your net worth is calculated instantly. Just click on the “Balance Sheet” on the top right-hand corner and vaultbox will list out all your assets and liabilities that you have entered onto the system and calculate your total net worth.


There you go. You have successfully captured all your assets and liabilities and finally know your actual net worth, the best way to measure your financial health!




About vaultbox


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.


Having a safe and easily accessible platform for all your important information has never been more important. Try vaultbox now with 30-day free trial.

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