How to Build a Family Net Worth Statement (and Why It Matters)
Everything you own, minus everything you owe, reviewed four times a year.
The simplest financial scorecard
Assets minus liabilities. That is the whole formula. It is the only number that reflects both sides of your financial life at once.
List your assets
- Cash and savings accounts
- Investments and retirement accounts
- Property, at a conservative estimate
- Vehicles, at trade-in value, not what you paid
List your liabilities
- Mortgage
- Car loans
- Credit cards and buy-now-pay-later balances
- Student and personal loans
Review quarterly
Monthly is too noisy — markets and valuations move for reasons unrelated to your behaviour. Quarterly shows the trend your decisions are producing.
Avoid double counting
If a synced account already includes a balance, do not also enter it manually. Duplicated assets flatter the total and defeat the purpose.
What a good trend looks like
Steady upward movement, driven by debt falling and savings rising, is exactly what you want. A single flat quarter means nothing. Four flat quarters is worth investigating.
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