Instructions:
1) Start on cell B10 and enter today's date or the date you begin tracking your net worth
2) Log into your personal online accounts for your asset and liabilities information (i.e. your Investment custodian, Zillow, etc).
3) Enter asset information starting on cell B14. You may need to add additional rows. Be sure to include anything of significant value including your house, cars, and investments.
4) Enter your liabilities information starting on cell B50. Things like loans, mortgage or revolving credit card debt. Any credit card debt that is paid off monthly can be left out. You'll need to login to your mortgage and other loan servicing providers to find your "principal" balance for each account.
The Big Picture:
Your net worth statement is the most important aspect of your financial picture. Without evaluating your net worth on a continuous basis, it will be difficult to understand how well you are doing financially. You can use your knowledge of your net worth to make smarter financial decisions.
The Key Takeaway:
Don't worry if your net worth is not as high as you would like it to be. It's more important to manage the direction of your net worth as it will hopefully continue to grow and compound over time. Net worth can change substantially due to stock market changes and other factors so it's best to take a long term approach to this sheet.