Calculate your net worth

3 mins read

Understand and learn to calculate your net worth

What is your net worth?

Simply put, your net worth is what you own less what you owe. Or, in other words, calculate your net worth by summing the value of all your assets and then subtracting the sum of any liabilities you have. E.g. The total value of your house, your car, any savings or funds in your bank account, shares you own and any other assets, LESS any debts – e.g. your credit card debt, mortgage debt, short term loans or any other liabilities.

Just because someone has a high net income, that doesn’t mean that they have a high net worth. They could have a number of liabilities that reduce their net worth.


Why it can help to understand your net worth

To get a better understanding of your personal finances, it’s can be very beneficial to get a solid understanding of your financial position. With a view of your net worth, you’ll understand your baseline and be able to get a better gage on your current financial position. Better still, once you have your baseline, you’ll be able to track your position over time.

  • Understand your baseline.
  • Determine if you have enough savings to cover emergencies.
  • Better understand any debts you need to reduce.
  • Track how you’re progressing over time.


How to calculate your net worth

There’s no major rocket science to this one. Rather, it requires that you take an inventory of everything you own and everything you owe. Once you’ve collated your list, determine the values of each asset and liability and subtract total liabilities from total assets.

Total assets – total liabilities = Net worth


Assets and liabilities to consider when calculating your net worth

When creating an inventory to calculate your net worth, consider the following  when creating your asset and liability inventory.


  • Your savings balance in your savings accounts.
  • The balance in your checking/current accounts.
  • Balances in any retirement accounts you have created.
  • Superannuation balance(s).
  • The market value of your home (if you own one).
  • If you own any investment properties, the market value of the property.
  • The balance of any share investment accounts.
  • The market value of any cryptocurrency, gold, art, jewellery, or any other alternative assets that you own.
  • The value of any transportation assets you own – cars, motor bikes, boats, etc.
  • Value of your ownership stake in any businesses you own, or part own.


  • The balance of any loan you have (mortgage, car loan, student loan, or any other loan).
  • The value of any cash debt you may have.
  • Any outstanding balance on credit cards.
  • Tax liabilities you may have incurred that are outstanding.
  • Any other debt you may have.


How Humaniti can help

Humaniti’s personal finance and budgeting app can take the hassle out of calculating your net worth and tracking it over time. When you connect your financial accounts, the total values of your assets and liabilities will be automatically populated for you on your dashboard. If you have other assets or liabilities, you can add the values manually. Once all your assets and liabilities have been added, Humaniti will automatically calculate your net worth and track it over time.

Net worth calculator
Your net worth is automatically calculated.


Check out this article to learn more about how Humaniti can help you manage your personal finances.



Humaniti is a personal finance and budgeting app, not a financial advise solution.  This article is provided for general information purposes only. Consider seeking independent financial, taxation or other advice from a qualified advisor where you require assistance relating to your unique circumstances.


Track your spending to learn where you can save

3 mins read

Spend less and save more by understanding where you’re spending

Take control of your personal finances by understanding where you’re spending. Track your spending to budget better and save more. Budgeting is important, but difficult without help. That’s where Humaniti makes things much easier. .


1. Understand where you’re spending

Without the help of smart tools, knowing where and when you’re spending can be harder than it seems. Your banking app will show you the detail of your transactions, but most banking apps lack the smarts to automatically categorise your spending (other than at a high level). What’s more, most banking apps don’t offer a simple way to view your spending over a chosen period and to dive into the detail of each transaction.¬† Without the help of a personal finance or budgeting app, it’s hard to know exactly how much you’re spending and on what you’re spending on.

How Humaniti helps

To help you better understand how and where you’re spending, when you link your financial accounts with Humaniti, your spending will be automatically categorised for you. The vast majority of your transactions will be automatically categorised, and you can manually categorise those that aren’t once you understand what the transaction relates to.

spending categories chart


By getting a better understanding of the categories of your spending, you’ll know where your money is going. To dive into the detail of each category, simply select the category you want to review.


2. Evaluate how you’re tracking

Once you’ve connected your accounts, simply review how you’re tracking for the period. Check if this is in line with your expectations, or whether there are areas of your spending that you are concerned with. By having a clear view of when and where you’re spending, you may find that it’s easier to budget and identify areas where you could save.


3. Review your recurring subscriptions

Subscription services are the norm these days, but do you know exactly how much you’re spending on them, and which ones you’re not using? Most services hook us in easily, but unless you review your banking statement, it can be hard to identify your recurring subscriptions from other transactions, and you may end up paying for services you’re not using.

How Humaniti helps

Once you’ve connected your financial accounts, the Humaniti app will automatically identify and show you your recurring subscriptions. That way, you can quickly identify if you’re paying for any services that you’re no longer using. In fact, one of our founders saved $480 a year by identifying subscriptions that he didn’t need.

No need to take any manual steps. We’ll do all the work for you. Simply review your subscriptions from your dashboard.



Key takeaways on tracking your spending

Understanding where and how much you’re spending is key to identifying where you can save more. Humaniti’s automated tools can help make this process easier, by doing the heavy lifting for you. Track your spending and improve your savings with our personal finance app.