If you hear net worth and immediately think that’s for rich celebrities, pause right there. Tracking your net worth isn’t just for millionaires – it’s a secret habit of the wealthy that you’ve been missing out on. It’s for anyone who wants to grow their money, no matter where they’re starting.

Think about it, we track our steps, workouts and so many other things in life. But when it comes to money? Silence. Keeping tabs on your net worth is one of the best ways to see the bigger picture when it comes to your money situation.

In this guide, you’ll find out:

✅ What net worth actually means

✅ Why it matters

✅ How to track it

What is net worth and why does it matter?

At its core, net worth is what you own (assets) minus what you owe (liabilities). While most money conversations are around salary and income, your net worth is what tells the real story. You could be earning a six figure salary whilst drowning in debt, meanwhile someone with a lower income is consistently growing their net worth month on month.

🖼️ You get to see the bigger picture – Instead of just looking at your budget and payslips, you net worth is a true reflection of your money habits.

📈 It tracks your progress over time – Watching your net worth grow over time (even if it’s slow) keeps you motivated.

Even if your net worth is negative right now, the act of tracking it is what matters. It’s not about where you are today but where you are headed🫶

What assets should I include?

Not all assets are created equal. When tracking your net worth, focus on things that grow in value over time and/or can be turned into cash if needed.

✅ Cash savings

✅ Investments (pension included)

✅ Property

❌ Cars, tech, clothes, handbags

❌ Junior ISAs

❌ Sinking funds

How to actually track your net worth

1️⃣ Identify your assets

You’re going to write down everything you own that grows or holds value over time.

• Cash savings – include emergency funds and savings accounts here
• Investments – Stocks, ISAs, pensions etc.
• Property – Use a consistent valuation (update this yearly unless there’s a big market shift)

Pause here for a moment of reflection: Are you happy with what’s on this list? Does it highlight areas where you could grow?

2️⃣ List your liabilities 

Now you’re going to write down everything you owe.

• Debts – credit cards, personal loans, car finance etc.
• Mortgages – include your outstanding balance here

Another moment of reflection: Are your debts tied to meaningful investments or overspending?

3️⃣ Calculate your net worth

Now subtract your liabilities from your assets:

Total assets – total liabilities = your net worth

📉 If it’s negative – That’s okay! This is your starting point, not your endpoint.

📈 If it’s positive – Amazing! Now the goal is to keep growing it.

4️⃣ Check in monthly

Tracking your net worth monthly is the best way to see your bigger picture and see the impact of your money habits over time.

Ready to track your net worth? Head to the net worth tracker in the app to get started📈