Are you tired of using money management software that requires you to track all of your transactions? Did you ever get tired of that and give up using them altogether?
Did you realize that entering information into these programs, appropriately categorizing all of your spending isn't a good use of your time? It is just a lot of work to get a picture of your month-to-month money flow.
Are your finances on track? Tracking your net worth is like giving yourself a grade every month and helps keep your spending/savings for the month accountable.
Calculating net worth is essentially synthesizing all aspects of your personal finances into a single number.
To calculate your net worth, take every asset you can possibly think of and subtract all the various sources of debt, and there it is - the single most comprehensive gauge of how you are doing financially.
Create your own list of asset and liability categories. Log monthly values for each of your categories.
You can also let the app create a default set of asset and liability categories.
Spend only minutes each month to enter your net worth information. There is no need to go over hundreds of transaction per account every month.
To speed up data entry, the app offers values from the most recent log period. If the category value needs to be changed, you can change it by tapping on the category row and editing it. Once changed, the value color turns green or red.
The app will calculate total value of all your assets, categories and the net worth.
The pie chart can display several types of information: total net worth with total assets and liabilities, all asset categories or all liability categories.
You can choose to display value of each category as a percentage of total or as an amount.
To rotate the pie chart, drag your finger across it from left to right or right to left.
To change the diameter of pie chart's internal hole, drag your finger across it from top to bottom or from bottom to top.
Annual view gives you an overview of your net worth at the end of each calendar year.
If you turn on the 'Annual trend' option, the application will try to predict your net worth several years in the future.
Pin code protection - protect access to your information with a pin code.
Set a net worth goal - if that option is set a goal line will be displayed on the main chart.
Change main chart's settings - line width, line v.s. area chart, show/hide plot symbols.
Turn annual trend forecast on or off. If turned on, select how many periods in the past to use to calculate a number of periods in the future.
A history chart will display one of several chart types: net worth, total assets and liabilities or a single asset or liability category. Select the chart's menu button to select a type of the chart to display.
By default, a time scale displaying all of your data is selected. If you select any other scale, you can pan left and right to see data points from different time periods.
You can change some of charts' properties from the application Settings.
Compare any two of your net worth records.
All you have to do is select two different log periods, and you will see net worth information related to each of the selected periods as well as differences between these periods.
If some of your other installed iPad apps is able to open CSV files (Comma-Separated Values), you will be able to transfer your net worth history to any of these apps.
Only your total net worth values with log dates and notes will be transferred. History of individual categories will not.
Some of the apps that will be able to handle your data: Apple's Numbers, GoodReader, DropBox, Microsoft's OneDrive.
Setup and receive monthly reminders to update your net worth .
Enable a PIN code protection of your app.
If you turn this option on and set a PIN code, you will be able to get into the app only after entering the correct PIN code.