How Personal Capital Tracks my Net Worth

Personal Capital is my favorite net worth tracking app/website. I absolutely love it. It has helped me increase my net worth so much since I started using it several years ago, and it’s ridiculously easy to use.

I first learned about the Personal Capital app from one of the myriad personal finance blogs that I read, so I decided to try it. So many personal finance bloggers have reviewed Personal Capital or use it that I figured it much be pretty secure. I have never regretted it, and I’m so grateful that it has been silently tracking my net worth. I have learned so much.

In order to use Personal Capital, you will need to be comfortable linking your banking and credit accounts. This way, the program can track your balances and payments. I currently have credit card accounts, bank accounts, vehicle loan accounts and a few manual accounts that are through private lenders and are unable to link. By using manual accounts, you will have to track your payments and balance yourself in order to keep up with it.

Because of my student loans, I’ve been in the red, so to speak, since I began using Personal Capital. But, I continue to see an upswing. I’ve reduced my debt by around $20,000 in the past few years, as well as further building my pension fund through my employer. This has, in turn, increased my net worth quite a bit (always a good thing!)

Being able to see everything in one fell swoop is VERY helpful for me. Spread sheets and logging every single expense in a budget tracker stress me out, but Personal Capital makes it so I can just see the overall big picture. This is MUCH easier and less stressful for me. If you’ve never tried tracking your net worth, you should really give it a go. It will definitely open your eyes to exactly what your situation is right now. Then, you can begin to either fix it or make it better.

Do any of you track your net worth?! What apps and/or websites do you use?