Build your Net Worth picture
Bring what you own and owe together, with current values and no double counting.
Get a complete picture of what you own, what you owe and the difference. Use current balances and reasonable estimates, and note when each value was checked.
Check what is already included
On desktop, open Assets + Liabilities. In the mobile app, open Net Worth. Check existing items before adding more, including any connected account balances.
Choose a date for this review. Use the latest available values and note any older valuation or estimate; they may not all have the same date.
Add what you own
Check cash, property, investments, superannuation and other material assets you own. Add anything missing with a current value. On desktop, use + Asset; in the mobile app, use Add asset.
Include each item once. If a connected balance is already present, do not add a second manual copy. Use a property's full value here; enter its mortgage as a liability in the next step.
Add what you owe
Include outstanding mortgages, credit-card balances and other loans. On desktop, use + Liability. Enter the amount still owed, rather than the repayment or original loan amount. Check that an existing liability is not already included.
Link a debt to its related asset where offered. Keep the full asset value and the debt separate so the debt is subtracted only once.
Check the overall picture
Check the Balance sheet against your list of accounts, assets and debts. Resolve missing items and duplicates, and identify any values still estimated or out of date. In the mobile app, Equity cards also groups related value and debt.
Read the total assets, total liabilities and the difference. This is your Net Worth picture as reviewed today; it does not mean all of that value is available to spend.
You’re finished when…
Every material item you own or owe is included once, you know the dates and limits of the values, and you can explain your net position. If something is missing, keep the result provisional.
Why this works
Assets minus liabilities gives a net position. For example, AUD 990,000 in assets less AUD 412,000 in debts leaves AUD 578,000 in equity.
Equity is not the same as spendable cash. Some value may be tied up in a home, superannuation or another longer-term asset.
Next: Plan your next 12 months.