To calculate Net Worth, you need to know the current value of your assets and liabilities.
Assets are things you own and liabilities are things you owe (that you have to repay).
Calculating your net worth will help you understand your current financial position. It is very similar to a company's balance sheet and is calculated as on a particular day.
You may use an excel sheet or a google sheet to list down your assets and liabilities to find out your net worth.
Alternatively, you can use Notion.so. It is an application that can be used to store information, notes, databases etc.
Here is a sample of what I created using notion. It is a net worth sheet that gives you a breakdown of your assets (that's what I've done so far).
You can enter individual investments or assets and the Net Worth sheet will show the combined value.
Here is a demo:
I learnt to use notion recently and thought that this is a good way to explore the different things you can do with notion.
Notion is also available on phone and is very easy to use. There are a number of things you can do with databases and here is my take on making a database from scratch.
Do write to me at sreelakshmi@berupeewise.com if you want a copy of this template
