Disclosure: VaultFlow is ours. The advice works with any app, or with pen and paper.
In short
Add up what you own (cash, investments, your home, your car), subtract what you owe (cards, loans, mortgage), and write the number down once a month. VaultFlow keeps it for you on your iPhone — free, with no bank login.
- Net worth = assets − debts.
- Update monthly; watch the trend, not the day.
- Use values you could actually sell for.
The formula
Net worth = What you own − What you owe
Own: cash, savings, investments (TFSA, RRSP, stocks), your home at what it would sell for, your car, anything else with resale value. Owe: credit cards, car loans, student loans, lines of credit, mortgage.
Be honest with the numbers
Use what you could sell something for today, not what you paid. Cars lose value every year; a home is worth what a buyer would pay, minus what it costs to sell.
How often to update it
Monthly is plenty. Daily numbers bounce with the stock market and tell you nothing. What matters is the line over a year — is it going up?
Negative is normal at first
Student loans and a car payment can make a young net worth negative. That’s a starting point, not a verdict. Paying down a debt raises net worth exactly as much as saving the same amount.
Your net worth in 30 seconds
What you own
What you owe
Net worth $21,600
Nothing you type here leaves this page.
How to track it with VaultFlow
- Add what you own and owe. Accounts, any number of credit cards, investments with live prices, your home, loans and goals — on one page.
- Import instead of typing. Bring in the CSV, OFX or QFX statement file your bank lets you download; duplicates are skipped.
- Watch the line. Your net worth with a chart over time, next to what you own and owe.
- Keep it yours. No bank login and no account; export everything as a spreadsheet any time.
VaultFlow also does your budget and bills. It is free, with no subscription, and your data stays on your iPhone or iPad.
Common questions
How do I calculate my net worth?
Add up everything you own at today’s value and subtract everything you owe.
How often should I track my net worth?
Once a month is enough; the long-term trend is what matters.
Should I include my house in net worth?
Yes — at what it would sell for today, with the mortgage counted as a debt.
Is there a net worth app that doesn’t link to my bank?
Yes. VaultFlow never asks for a bank login — you import statement files or add values yourself.
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