AAR29 - How I Track Financial Progress

What It Covers

Evan Ray shares his personal system for tracking net worth monthly through spreadsheets, explaining how he quadrupled his wealth in three years using automation, regular check-ins, and visual progress tracking without risky investments.

Key Questions Answered

• •Monthly net worth tracking: Create a spreadsheet listing all accounts (401k, Roth IRA, savings, car value, debts) with current values, then calculate total net worth each month to visualize upward or downward trends and identify spending problems early.
• •Include all equity in calculations: Track car value and home equity as part of net worth since these assets can be liquidated for cash if needed. This approach provides a complete financial picture and maintains motivation when making large purchases like homes.
• •Historical data with notes: Record net worth snapshots monthly with detailed account breakdowns attached as notes. This allows comparison across time periods to identify which specific accounts (like 401k growth) contributed most to wealth increases over months or years.
• •Automation creates consistency: Set up automatic transfers to savings, retirement accounts, and bill payments. Monitor checking account balance trends monthly rather than tracking every transaction. Consistent automation produces steady upward net worth trends that compound over time without constant manual intervention.