How does WeMoney calculate my net worth?
WeMoney calculates your net worth using a simple formula:
Net Worth = Total Assets - Total Liabilities
What are assets?
Assets are what you own, including:
Cash in bank accounts
Investments
Real estate
Personal property
Superannuation
Any other items of value
What are liabilities?
Liabilities are what you owe, including:
Mortgages
Personal loans
Credit card debt
HECS/HELP debt
Car loans
Buy Now Pay Later balances
Any other financial obligations
How it works in WeMoney
WeMoney automatically calculates your net worth by pulling in balances from your connected accounts. You can also manually add assets or liabilities that aren't connected (like property values or HECS debt) to get a more accurate picture of your financial position.
Your net worth figure updates as your account balances change, giving you a real-time view of your overall financial health.