If you haven’t been tracking your personal finances, kick off with a Personal Net Worth Spreadsheet. It’s not revolutionary, but it is relentlessly revealing. The purpose is clear: record what you own, subtract what you owe, and face the unvarnished truth of the remainder. That number is your net worth—untainted by narrative or intention. It can’t flatter. It won’t excuse. It simply reveals.
Creating one is straightforward. No fancy software required. Just open a spreadsheet. Two columns: one for the item, the other for the value. Assets—cash, accounts, investments, property, even the emergency $20 in your glove compartment—are entered as positives. Debts—credit cards, loans, mortgages—go in as negatives. Hit tally. No interpretation required.
The format is irrelevant. The habit is not. The first time, you’ll take a moment to gather everything, crack open the records, and put it all down on paper. Then maintaining it becomes second nature. Your net worth isn’t aspirational—it’s an audit of how seriously you’ve taken reality. Many delay this process because it exposes what they’d rather not know. But the discomfort is the point.
Once established, revisit it at the top of every month. Refuse to seek validation. Reject fear of condemnation. Expect data. Is your number rising? Is it falling? Why? The questions are not rhetorical. They’re the foundation of self-awareness. Over time, the patterns become hard to ignore. Spending trends, investment gains, creeping liabilities—they surface. You evolve, or you don’t. But you’ll know.
The deeper impact is psychological. In a culture built on curated illusion, the spreadsheet is a private act of honesty. It demands ruthless attention. It sharpens focus. It turns vague financial anxiety into concrete decisions. That alone makes it indispensable.
Idea for Impact: Month after month, this quiet reckoning brings crisp perspective. What still matters. What no longer does. Where you actually stand. Where you might go next. That process, repeated over time, isn’t just accounting—it’s maturity. To skip it is surrendering to the sweet lie of ignorance—solace that shatters against the unforgiving logic of your financial truth.
A recent WSJ dispatch 
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