Net worth guides
These guides are for people whose money is spread across more than one bank, country or currency. You might have a salary in Singapore dollars and a pension in kroner, or a flat and a car alongside a mortgage.
Each guide answers one question and works through an example with numbers. You don't need Thallo for any of them, since a spreadsheet and a calculator are enough.
Guides
- How to track your net worth across several currencies. Keep each balance in its own currency, and convert with one rate source on one date. Worked through in Singapore dollars and Danish kroner.
- Why your net worth changed when you didn't do anything. How to split a change into currency effect and balance changes, step by step, with dollars, baht and kroner.
- How to track net worth without linking your bank. What to record instead, how long it takes (about two hours a year for nine accounts), and what you give up.
- How to value your car, property or a pension abroad. Whether the house counts, and how to put a number on a flat, a car and a foreign pension.
- Liquid net worth: what it is and how to work it out. The money you could reach within weeks, and why the figure can be negative even when you're doing fine.
- How often should you update your net worth? Monthly for most accounts and yearly for some, plus how to keep track of which numbers are out of date.
Examples
Each example follows an invented person with made-up numbers and a full set of accounts.
- Salary in Singapore, pension in France. A pension in euros whose value in Singapore dollars changes with the exchange rate while the statement stays the same.
- Property in two countries. A couple with a home and a mortgage in each of two countries.
- Paid in dollars, living in euros. A freelancer whose income and rent are in different currencies.
- Leaving bank-linked apps. Moving from an app with bank connections to entering balances by hand.
Free tools
- Net worth spreadsheet template. Balances, exchange rates and categories, laid out by month-end.
- Currency effect calculator. Enter balances and rates for two dates and see how much of the change came from the exchange rate.
If you'd like to keep track of all of this in one place, Thallo holds every account you have, in any currency, and shows your total, how it's changing month to month, and how much of each change came from exchange rates. It's free during early access.