Are you worth a million bucks? Or maybe just a few dollars? The Net Worth Excel Template can calculate your exact Net Worth and even graph the areas you’re most (or least) valuable in.
How to use the Net Worth Template
The Excel file will open to the first page which shows placeholder information. This page will automatically generate according to your data so skip it for now. Move to the bottom of the page and select the tab labeled “Assets”.
This is where your positive money is tracked. The first box in green labeled “Cash” has lines for you to fill in all of the money you have. If a category does not apply to you, ignore it. The purple “Personal” box works the same way. This is for all the items you own that have value and could be sold. Do not put the price you bought the item for, as likely it has decreased in value after being used. The “Investments” and “Retirement” boxes should be filled out the same way, and when you’re finished each box will have a subtotal automatically made. To the left, your total amount in assets is displayed with a circle graph showing where you hold the most worth.
Go back to the bottom and choose the tab labeled “Liabilities”. This is what subtracts from your Net Worth. The “Unsecured” box is for amounts owed that could change due to interest rates, fees, etc. Put in the information that exists right now and don’t calculate what you think the amounts will change to. “Secured” liabilities are amounts owed that won’t change (besides your payments). On the right, your total amount in liabilities will be displayed along with a circle graph.
Go back to the first tab labeled “Dashboard” and you’ll see the summary of your assets and liabilities and from these numbers, your total Net Worth is created!
Tips on using the Net Worth Excel Template
- Use this template to see how much you are over or under in your income/spending. If your liabilities are much higher than your assets, consider adjusting your budget.
- Run the Net Worth template once every three months to see how your budget is changing. The more positive it becomes, the more your budget is working.
Template courtesy of Microsoft