Tracking Your Net Worth | CashMaster

Tracking Your Net Worth

Keeping track of your Net Worth is key to understanding your financial health.

There’s a simple formula for calculating your Net Worth at any point in time.

Net Worth = (Total Assets) — (Total Liabilities)

CashMaster knows the balances of all bank and other financial accounts that you’ve connected.

It adds all your positive balances from these accounts to your Total Assets figure and negative balances to your Total Liabilities.

To access your Net Worth Report from the main menu select: Reports > Net Worth Report

CashMaster Net Worth Report

Other Assets and Liabilities

There are many assets and liabilities that won’t appear in the feeds from your financial institutions.

For example:

  • Real estate
  • Motor vehicles
  • Furniture and home appliances
  • Collectables such as stamps, art and antiques
  • Outstanding hire purchase debts
  • Outstanding loans you’ve made to family, friends etc
  • Businesses you own or in which you have part ownership

To get an accurate picture of your Total Net Worth you’ll need to add the values of these items to CashMaster manually.

How to Add Assets and Liabilities Manually

Manually add assets and liabilities from the Net Wealth Report page.

From the main menu select: Reports > Net Worth Report

Use the two buttons in the top right to add assets and liabilities.

CashMaster add assets and liabilities

Don’t worry if you don’t know the exact value of an asset or liability.

You can edit details such as value later directly from the Net Worth Report page.

CashMaster edit assets and liabilities