Keeping track of/projecting your net worth

maggieellen

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Hey all, new freelancer here. Have found it pretty challenging to keep good track of my net worth and wondering how others feel about it/how they keep track of it. So with that:

How important is it to you to know what your net worth is at any point in time?

How do you currently keep track of this number?
 
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jakobpersson

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I see no reason. There's no scenario under which I'd have to liquidate all my assets. Net worth seems like just another vanity metric. What I care about is the finances of my businesses so I watch the balance sheets carefully.
 

vincoding

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There are plenty of financial management tools out there that can track your net worth that you can get for free like Mint and Personal Capital. I don't see why it would really matter in regards to freelancing. As Jakob mentioned people are generally going to be liquidating their assets so this number isn't typically very important for any real-world reasons. Just focus on your yearly income that you are generating with freelancing and try to do all you can to take advantage of possible tax savings.
 
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