Money Snapshot
Net worth, expense audit, and your savings rate
Money Snapshot
Video coming soon
Scroll down to complete Trailmix Wealth community polls and activities related to this lesson!
Activity 1: Your Assets
List your current assets — checking, savings, 401(k), HYSA, Roth IRA, brokerage, real estate equity, etc.
| # | Asset Name | Balance |
|---|---|---|
| 1 | $ | |
| 2 | $ | |
| 3 | $ | |
| 4 | $ | |
| 5 | $ |
Activity 2: Your Debts
List your current debts — credit cards, student loans, auto loans, personal loans, mortgages. Include the balance, payoff date, and interest rate (APY). Rank by highest APY.
| # | Debt Name | Balance | APY % | Payoff Date/Age |
|---|---|---|---|---|
| 1 | $ | |||
| 2 | $ | |||
| 3 | $ | |||
| 4 | $ | |||
| 5 | $ |
Activity 3: Your Net Worth
Now take your total assets and subtract your total liabilities. Don't be afraid of a negative number — this is your starting point, not your ending point.
- A negative number doesn't mean you're behind — it means you have a starting line.
- What matters is the direction this number moves month over month.
Michael's book pick for this topic is on the way. In the meantime, browse the full bookshelf.
Visit the Bookshelf →Try These Calculators
Related Tools & Resources
Platforms Michael uses that are relevant to this lesson. These are affiliate links to support our work bringing free, advanced wealth-building education to all.
Monarch Money
The budgeting app I actually use. Clean interface, tracks net worth, joint accounts for couples. 50% off your first year.
SoFi Bank
High-yield savings, Roth IRA, and brokerage all in one place. Up to a $400 welcome bonus for new accounts.