Everyday people handle their money in some way. One may go out and make a purchase, or they may get their paycheck and put some of it towards savings. The fact is, everybody has to manage their money, but it’s not always easy. Everyone wants financial freedom, but not everyone knows the way to get there. Knowing your net worth can help you manage your money more effectively and reach your financial goals.

To put it simply, your net worth is your total assets minus your debt and liabilities. Knowing whether your net worth is positive or negative can help you plan for the future.

Your assets may include: cash, retirement accounts, stocks, bonds, houses and cars.

Your liabilities may include: mortgage, credit card debt and loans.

Many people manage their accounts and investments personally. They either use spreadsheets or paper to keep track of their saving, spending and their budget. Keeping track of your investments, sources of income and other accounts can be a difficult and inconvenient task. You need to know the balances of several accounts before you make a financial decision.

With Personal Capital  you can link your bank accounts, investments and retirement accounts you have to the app. Linking the accounts does not mean you are giving Personal Capital access to your account. You link the accounts only to be able to see the balances of all the accounts.

By using Personal Capital you are able to see all of your accounts and investments in one place. By linking the accounts you have the ability to see if you are on pace for retirement, or if you need to change your spending and or saving habits. This allows for easy tracking of your net worth over time, which in turn can help you reach your financial goals.