Using the Net Worth page

The Net Worth page provides you with an overview of your total financial position, including any assets and liabilities not represented as bank accounts. This means you can add assets such as a house or car, as well as any liabilities such as a car loan, or a personal loan 🏡  🚗 💰

In this user guide

The Net worth report

The Net Worth report displays your total net worth based on the current value of your assets, liabilities and account balances. This is displayed at the top of the page. The report is then divided into two main sections:

  • What I own 
    Any accounts that currently have a positive balance, as well as any assets (including property) that have been added to your PocketSmith account 
  • What I owe 
    Any accounts that currently have a negative balance, as well as any mortgages, loans or other liabilities that have been added to your PocketSmith account

Listed under each of the sections ( What I own or What I owe) you'll see the following information for each asset, liability, or account:

  • The name of the account, asset or liability
  • The type of asset (property, vehicle etc), liability (loan, mortgage, vehicle etc) or account (bank, credit card etc)
  • The current value
  • The date the current value was last updated
  • For any asset that is linked to a liability, you'll also see the liability it is linked to

Note:

You can edit the details or settings of an account, asset, or liability listed on your Net worth page by clicking on its name in the Net worth report. For more details about editing the details of your assets and liabilities, see the user guide:  Managing your assets and liabilities

For more details about editing accounts, see the user guide:  Edit the details of your accounts


The Net worth graph

At the top of the page, the Net Worth graph displays the changes in your net worth balance for the past 3 months (in green or red), and the forecasted balance for the next 3 months (in blue or red.) 

  • Green in your graph reflects a positive balance 
  • Red in your graph reflects a negative balance
  • Blue in your graph represents forecasted balances

Hover over any point on the graph to see the date and the balance. If you hover over any day 30 days from the current day, a daily forecast balance will be displayed. Beyond this, a weekly forecast balance will be displayed

Note:

If you don't want the graph to be displayed, you can hide it by clicking the X in the top right corner. To reveal the graph, click the graph icon

Viewing scale options for the Net worth graph

There are two different Viewing scale options for the Net Worth Graph, click the ZOOM OUT or ZOOM IN button to change between the two. 

ZOOM OUT
This option shows an overall view of your total  net worth  where the y-axis begins at zero. The minimum and maximum values of your net worth graph are listed to the left of the graph. 

ZOOM IN
To get a better view of changes to your net worth, you can zoom the graph in.

This option shows the changes to your net worth over the past 3 months as well as the forecasted balances for the upcoming 3 months (blue). The figures beside the graph represent the minimum and maximum values based on this 6 month period.


Adding a new asset or liability

You can easily add a new asset or liability from the toolbar.

For more details on what to do when adding an asset or liability, check out the following user guide:  Managing your assets and liabilities .

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