Like a company, each of us have a personal balance sheet. A balance sheet captures a snapshot of our financial status at one particular point of time. There are 3 primary items in a personal balance sheet, that is Assets, Liabilities and Net Worth.
Consolidating and tracking all your accounts, different assets and loans can be rather time consuming. Dr Wealth allows you to keep track of all your assets and liabilities as well as calculate your net worth.
Assets
Assets are basically resources which are owned by you for your benefit. They can be grouped into Cash & Cash Equivalents, Investment Assets and Personal Use Assets.
Dr Wealth Balance Sheet
Cash & Cash Equivalents
Cash & Cash Equivalents are basically your bank savings and checking accounts, as well as fixed deposit accounts and cash value of insurance policies. These are your most liquid assets which can be used any ......