Short answer
To track your net worth, record every asset and debt once, then update the balances on the same day each month and watch the trend. A spreadsheet is the best free tracker and works with any Canadian bank. If your money is spread across several institutions, an automatic tracker that connects to them saves the monthly data entry.
How to Track Your Net Worth: The Monthly Routine
- List every account and asset. Write down each bank account, TFSA, RRSP, FHSA, pension, investment account, property and vehicle, plus every debt: mortgage, lines of credit, credit cards, car and student loans.
- Choose your tool. A spreadsheet for full control at no cost, or an automatic tracker if your accounts are spread across several institutions.
- Record a baseline. Enter today's balances and market values. Assets minus liabilities is your starting net worth.
- Pick a fixed update day. Update on the same day each month so the numbers are comparable. Update home and vehicle values once or twice a year.
- Split the change into contributions and markets. Each month, note how much came from saving and paying down debt versus investment gains or losses.
- Review the trend every quarter. Look at the direction over three, six and twelve months rather than any single month.
The whole routine takes about 15 minutes a month with a spreadsheet once it is set up, and less with an automatic tracker, where you only update the values no bank reports, like your home and car.
Free and Paid Net Worth Trackers Compared
| Tool | Price | How balances get in | Best for |
|---|---|---|---|
| Spreadsheet (Sheets, Excel, Numbers) | Free | You type them in | Few accounts, full control |
| Unified net worth calculator | Free, no sign-up | You type them in | A quick number and StatCan comparison |
| Your bank's app | Free | Automatic, that bank only | Everything at one institution |
| Unified | $6.99 CAD/mo or $69 CAD/yr; 14-day trial | Automatic daily sync across Canadian institutions | Banks, cards and investments in one view |
| Wealthica | From $50/yr | Automatic, investment-focused | Portfolios across brokerages |
| Monarch Money | US$99.99/yr | Automatic | An all-in-one app, billed in USD |
Prices verified October 5, 2026. Disclosure: we make Unified.
No automatic tracker that connects to Canadian institutions is free with no limits, because each connection costs the app money. Investors who mainly want portfolio performance should read our Wealthica review.
Building a Free Net Worth Spreadsheet
Four columns are enough to start:
| Column | What goes in it |
|---|---|
| Account or item | e.g. TD chequing, Wealthsimple TFSA, RBC mortgage, 2021 Civic |
| Type | Asset or liability |
| Institution | Where it's held, so you know where to look each month |
| One column per month | The balance or value on your update day |
Add a total row for assets, one for liabilities, and a net worth row that subtracts them. A chart of the net worth row over time is the most motivating thing in the file. Keep RRSPs on their own row: they are taxed when withdrawn, so you may also want an after-tax view, which our calculation guide explains.
When an Automatic Tracker Is Worth Paying For
A spreadsheet stops being practical when:
- Your accounts sit at three or more institutions.
- You have credit cards and lines of credit whose balances change constantly.
- You keep meaning to update it and don't.
- You also want spending and budgets in the same place.
Unified connects chequing, savings, credit cards, lines of credit, TFSAs and RRSPs at Canadian institutions, read-only, and recalculates net worth on each daily sync, next to your budgets and spending. You can add cash accounts by hand. Your home and car still need values you update yourself, as they do in any tracker. If you have accounts at several banks, read how to manage multiple bank accounts too.
Reading the Trend: Saving vs Markets
Net worth changes for two reasons, and they mean different things:
| Driver | Examples | What it tells you |
|---|---|---|
| Contributions | Money saved, debt paid down, RRSP and TFSA deposits | Whether your habits are working. You control this. |
| Market and value changes | Investment gains or losses, home value changes | Mostly noise month to month. You don't control this. |
A simple monthly check: if contributions were positive, the month was a success, even if markets pulled the total down. Over years, steady contributions are what move most households' net worth.
How Do You Compare?
Statistics Canada publishes median and average net worth by age, province and family type. Our guide to average net worth in Canada covers the numbers and how to compare yourself fairly; the calculator shows where your number falls. The most useful comparison is still you, a year ago.
Frequently Asked Questions
What is the best free net worth tracker in Canada?
A spreadsheet is the best fully free option: it works with every bank and costs nothing, but you update balances yourself. For a one-off number, Unified's free net worth calculator needs no sign-up. Automatic trackers that connect to Canadian institutions are paid: Unified ($6.99 CAD/month or $69 CAD/year after a 14-day trial), Wealthica (from $50 a year, investment-focused) and Monarch Money (billed in USD).
How often should I track my net worth?
Monthly is enough for most people. Pick the same day each month, such as the first, so the numbers are comparable. Daily tracking mostly shows market noise; an automatic tracker can update in the background while you still review it monthly.
Should I include my house in my net worth tracker?
Yes, at a realistic market value with the mortgage as a liability. Update the home value once or twice a year rather than monthly, and consider tracking a second figure that excludes your home, since you can't spend the equity while you live there.
Why did my net worth go down when I saved money?
Usually because investments fell or a large bill landed in the same month. Separate the two drivers: what you added (savings and debt repayment) and what markets did. If your contributions were positive, you are on track even in a down month.
Is it safe to connect my accounts to a net worth tracker?
Reputable trackers use read-only connections through established data providers, so they can see balances but cannot move money. Check that the app uses your bank's own login screen, encrypts your data, offers two-factor authentication and lets you delete your data. Our Canadian banking app security guide has a checklist.