Net worth is what you own minus what you owe. One number, checked once a month, shows whether paying down debt and saving are actually moving you forward, even when a single month feels slow.
1. List your assets
Checking and savings, retirement accounts, investments, the value of your home or car if you own them, and cash. Use realistic values, not hopeful ones.
2. List your debts
Credit cards, car loans, student loans, mortgage, personal loans and anything you owe.
3. Pick a starting point
Record every balance on the same day, for example December 31, 2026. That is your baseline.
4. Update monthly
Once a month, type in each balance from your statements. It takes about 15 minutes.
5. Watch the trend, not the month
Markets go up and down and big bills happen. Look at the direction over several months.
6. Set a goal
Pick a 2027 goal, like paying off a card or adding a set amount to savings, and see your progress each month.
Checklist
- ☐ List every account and debt
- ☐ Record a December 2026 baseline
- ☐ Update balances monthly on the same day
- ☐ Check the change since last month
- ☐ Review debt-to-asset ratio
- ☐ Set a 2027 net worth goal
Help it grow with the free debt payoff calculator, emergency fund calculator and sinking funds calculator. This is record-keeping, not financial advice.