How often to update your net worth
Quarterly is enough for most families, monthly if the market-linked share is large. Daily is a hobby, not a plan.
A sensible cadence
Update market-linked holdings monthly, illiquid assets annually, and review the whole statement quarterly. Property does not need revaluing every month, and pretending otherwise turns a useful habit into a chore you abandon.
What to record each time
The value and the date. A single number is a snapshot; a series is a trend, and the trend is what tells you whether a holding has actually beaten inflation since you bought it.
When to update out of cycle
A property sale nearby, a large prepayment, a bonus, a new loan, or a market move large enough to make the news. Events change the picture more than calendars do.
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.