Track Finances in Australia with Free Net Worth Tool

Because It’s the Only Financial Number That Actually Matters

Let’s Be Real: Budgeting Alone Doesn’t Cut It

You could follow every “$5 coffee rule,” coupon hack, or set up a budget spreadsheet that would make your accountant cry tears of joy… and still have no idea if you’re actually getting richer.

Your net worth is the only number that tells you if your financial life is working. Period.

I didn’t learn this from a finance textbook. I learned it the hard way.

A few years back, I thought I was doing everything “right.” I had a steady income, was putting money in super, and tried to stick to a budget (even though I hated it). But I wasn’t tracking the full picture.

Then I built a simple Net Worth Tracker in Excel. One sheet. One formula. And what I saw changed everything.

What Is Net Worth, Really?

Net Worth = What You Own – What You Owe

Assets (What you own):

Savings accounts
Superannuation
Property (your home, investment properties)
Shares or ETFs
Your car (maybe… more on that later)

Liabilities (What you owe):

Mortgage
Credit card debt
Car loan
HECS/HELP student loan
Personal loans

Subtract your liabilities from your assets and you’ve got your net worth.

Why Net Worth Is the Scoreboard of Your Financial Life

Your net worth shows:

Are you growing your wealth?
Are you going backwards?
Or are you just running in place?

Personal example: When I first used a free net worth template, I had a decent salary and no debt. But guess what? My net worth was only $6,000. I was living in “financial autopilot” — spending a lot and saving little. That was a wake-up call.

Net Worth vs Budget: They’re Not the Same

Think of budgeting as looking forward — it’s your spending plan. Tracking your finances in Excel is like looking in the rearview mirror: it tells you whether your financial actions are actually working.

You bought an investment property? Did your net worth go up?
You saved $5K in your high-interest savings account this year? Awesome. Where’s that reflected?

The Benefits of Tracking Your Net Worth

Total Clarity – No more guessing. You’ll know where every dollar sits.
Motivation That Lasts – Nothing more satisfying than seeing your net worth climb over time.
Smarter Decisions – Make better calls with the full picture in view.