Net Worth Tracking

Monitor your complete financial picture over time

Net worth tracking in Prism Wallet gives you a comprehensive view of your financial health by calculating your total assets minus liabilities, updated in real-time.

Understanding Net Worth

What is Net Worth?

Your net worth is:

Total Assets (what you own)
Minus Liabilities (what you owe)
Equals Net Worth (your financial position)

Why Track Net Worth?

See overall financial progress
Look beyond daily spending
Track long-term wealth building
Make better financial decisions
Set meaningful goals

Net Worth Dashboard

Overview Display

Your dashboard shows:

Current Net Worth: Big number at top
Month Change: Dollar and percentage
Visual Graph: Trend over time
Asset/Liability Breakdown: Pie charts
Account Contributions: What impacts most

Time Periods

View net worth over:

Last 30 days
Last 3 months
Last 6 months
Year to date
All time

Assets Tracking

Types of Assets

Cash & Savings:

Checking accounts
Savings accounts
Money market
Cash on hand

Investments:

Brokerage accounts
Retirement (401k, IRA)
HSA accounts
Crypto (manual)

Property (manual entry):

Home value
Vehicle values
Other property

Other Assets:

Business value
Collectibles
Other valuables

Automatic Updates

Connected accounts update:

Bank balances daily
Investment values real-time
Credit cards with each sync
Loans with monthly statements

Manual Assets

Add non-connected assets:

Go to Accounts → Add Manual
Choose asset type
Enter current value
Update periodically

Liabilities Tracking

Types of Liabilities

Credit Cards:

Current balances
Not just statement balance
Updates with each purchase

Loans:

Mortgages
Auto loans
Student loans
Personal loans

Other Debts:

Medical debt
Family loans
Business debt

Liability Details

For each debt see:

Current balance
Original amount
Interest rate
Monthly payment
Payoff progress

Net Worth Insights

Growth Analysis

Track progress with:

Monthly Growth Rate: Average change
Best/Worst Months: Understand patterns
Milestone Tracking: Celebrate achievements
Projections: Where you're headed

Breakdown Views

By Category:

Cash: 30%
Investments: 50%
Property: 20%
Debts: -$X

By Account:

Which accounts contribute most
Largest liabilities
Best performing assets

Trends & Patterns

Discover:

Seasonal fluctuations
Impact of major purchases
Investment performance
Debt paydown progress

Setting Net Worth Goals

Goal Types

Milestone Goals:

First $10,000
First $100,000
Debt-free date
Retirement target

Growth Goals:

Increase 10% yearly
Save $X monthly
Reduce debt by Y%

Tracking Progress

Visual progress bars
Estimated achievement date
Required monthly change
Celebration when reached

Improving Net Worth

Increase Assets

Quick Wins:

Automate savings
Increase 401k contribution
Open high-yield savings
Invest idle cash

Long-term Strategies:

Invest regularly
Buy appreciating assets
Start side income
Maximize employer match

Reduce Liabilities

Debt Strategies:

Pay more than minimums
Target high-interest first
Consolidate if beneficial
Avoid new debt

Smart Approaches:

Debt avalanche method
Debt snowball method
Balance transfer cards
Refinancing options

Advanced Features

Net Worth Snapshots

Monthly statements
Year-end summaries
Share with advisor
Track milestones

What-If Scenarios

Model changes:

"If I save $500 more"
"If I pay off credit card"
"If investments grow 7%"
"If I buy a house"

Peer Comparison (Premium)

Anonymous comparisons:

Others your age
Similar income levels
Same geographic area
Motivational insights

Common Questions

Fluctuating Net Worth

Why it changes daily:

Investment volatility
Pending transactions
Credit card usage
Market conditions

Focus on trends: Don't worry about daily changes

Negative Net Worth

It's common: Especially with student loans

How to improve:

Focus on trend, not number
Celebrate small wins
Pay down highest-rate debt
Build emergency fund

Home Values

Adding property:

Use conservative estimates
Update quarterly
Consider costs to sell
Use online estimates

Best Practices

Regular Reviews

Monthly Tasks:

Check net worth change
Update manual accounts
Review largest changes
Adjust goals if needed

Quarterly Tasks:

Update property values
Review investment mix
Reassess goals
Plan next quarter

Accurate Tracking

Keep accounts connected
Update manual accounts
Include all debts
Be realistic with values

Using the Data

Make decisions based on impact
Consider net worth in big purchases
Track correlation with habits
Share with partner/advisor

Data Security

Encrypted storage
No sharing without permission
You control what's tracked
Delete anytime

Export reports
Share with advisor
Family visibility (coming)
Anonymous comparisons only

Tips for Growth

Beginners

Start tracking everything
Don't judge starting point
Focus on direction
Celebrate milestones
Build habits

Advanced Users

Optimize asset allocation
Model future scenarios
Tax-efficient strategies
Leverage insights
Automate everything

Mindset Matters

Net worth ≠ self worth
Progress over perfection
Compare to past self
Focus on control
Long-term thinking

Remember: Building net worth is a marathon, not a sprint. Small consistent actions compound into significant results over time!