Net worth

Net worth is everything you own less everything you owe. Budget Smugglers works it out from your accounts, then adds your property, shares and crypto at what they’re worth on each date. It shows up on the Dashboard and in more detail on Reports.

What counts#

Every account you can see in the pool goes in, at its balance at the end of each month:

• Cash: everyday, savings, offset, term deposit and cash accounts.
• Debts: loans, mortgages and credit cards count as negative. A loan you’ve lent to someone counts as positive, since it’s owed to you.
• Super: your super balances. You can show net worth with or without them.
• Assets: a home, car or anything else you’ve added on Assets, at its value on that date.
• Investments: share portfolios and crypto, valued at the prices on that date.

A few things to know:

• Only accounts in the pool’s own currency are added to the total. Accounts in other currencies still show by account, but don’t change the total.
• An account counts only while it’s open. Before its opening date and after the month it closed, it counts as zero.
• If a pool member can’t see an account, it’s left out of their figures.
• If the pool has businesses, the Which accounts picker chooses between Personal, All accounts or a single business.

With or without super#

Super is money you can’t touch until you retire, so it can be handy to leave it out. When you have super balances, the net worth card has an Include super switch. Under the headline figure, a line tells you how much super it Includes or Leaves out.

The switch is remembered, and it applies to the net worth chart, the by-account chart and Net worth by age.

On the dashboard#

The Net worth card on the Dashboard shows:

• Your net worth at the end of the period you’re looking at.
• How much it moved over that period, and over the year.
• A sparkline of the last 12 months.
• A row of small tiles for Cash, Investments, Super, Assets and Debts, each with how it moved over the year. A shrinking debt counts as good news.

Switch the chart from Total to By account to see the stack of accounts behind the total.

History on Reports#

Open Reports for the full net worth chart.

• 12 months or All time. All time reaches back to your earliest transaction or account opening date.
• Total shows net worth as a line, with each month’s cash flow (money in less money out) in a strip underneath.
• By account stacks your accounts: what you own above zero, what you owe below it. Net worth is the line over the top. The seven biggest accounts get their own colour and the rest fold into “others”.
• Milestones turns milestones on and off as markers on the chart.
• The ages picker (for example Sam’s age) labels the timeline with someone’s age. It appears once someone in People has a date of birth.

Net worth by age#

When you’ve picked someone’s age, Net worth by age lists their net worth at each birthday and how it moved over the year before. Older transactions or account opening dates reach further back.

Across your pools#

If you’re in more than one pool with the same currency, say a household and a business, choose All my pools in the Which accounts picker on Reports. It adds each pool’s net worth together for the last 12 months. Money that moved between the pools, like an owner’s drawings, isn’t counted twice. See Pools for more.

Getting it right#

Net worth is only as good as the balances behind it. If a figure looks off:

• Check each account’s opening balance and opening date on Accounts.
• Import any missing statements, so the months in between add up.
• Keep asset values and super balances up to date.