Building a family net worth statement
A family statement adds up across every member rather than stopping at one person's accounts — which is the only way it matches how an Indian household actually holds money.
Why the family is the right unit
In most Indian households, the home loan is in one name, the gold is in another, the insurance covers everyone and the school fees come out of whichever account has money. An individual statement misses most of that. The family statement is the one that matches reality.
What to include
Every asset with a realisable value, tagged to the member who owns it. Every loan, including informal borrowing from relatives if you intend to repay it. Insurance is not an asset, but sum assured belongs on the same page — it is what protects the statement.
Reviewing it together
Once a quarter, with whoever needs to know. The point is not the number; it is that more than one person in the family understands what exists, what is owed, and where the paperwork lives.
Where FamTally comes in
FamTally does this for you: every asset and loan in one place, tagged to the family member who holds it, valued at today's figures, with net worth tracked as a running number the whole family can see. Add the AI assistant and you can simply ask what changed and why. Free to use.
Stop doing this in a spreadsheet
FamTally keeps your loans, income, expenses, assets, insurance and goals in one place, forecasts five years ahead, and answers questions about your own numbers. Free, and built for Indian families.
Start freeQuestions people ask
Why does this matter for a family?
Because household money is held across several people and several instruments, and the only way to make a good decision is to see all of it at once.
How often should we review it?
Quarterly for the full picture, monthly for anything market-linked. More often than that is entertainment rather than planning.
Do we need an app for this?
A spreadsheet works if someone maintains it. An app helps when more than one person needs to see it, when live values matter, and when you want the history without keeping it by hand.