1List what you own
Checking and savings balances, retirement and brokerage accounts, and what your home or car would sell for today.
2List what you owe
Use the current balance on each card, loan and mortgage from your latest statement.
3Subtract
Total owned minus total owed is your net worth. Write down the date next to it.
4Repeat every quarter
Use the same method each time. The change between dates tells you more than any single number.
How to do it in Oaktally
A spreadsheet works until you stop updating it. Oaktally keeps each balance and its date, so the next check takes minutes.
- Add every accountChecking, savings, cards, loans, investments and retirement accounts, each with its balance.
- Update balances from statementsUse Update balance once a month. Oaktally keeps the date of each check.
- Watch the trendHome shows your net worth, what you own and what you owe, over a week, a month or a year.
Frequently asked questions
Should I count my car?
Count what it would sell for, not what you paid. Cars lose value, so expect that number to fall.
Do I count money in my 401(k) before taxes?
Most people count the full balance. Just remember that traditional accounts are taxed when you withdraw.
Further reading
Federal Reserve: Changes in U.S. Family Finances from 2022 to 2025 ↗Educational examples, not individual financial advice.
