Your net worth is the difference between everything you own and everything you owe. LifeAxis calculates it automatically from your accounts, so you always have a current number without building a spreadsheet.
What feeds into net worth
| Type | Counted as |
|---|---|
| Bank account balances (current, savings, fixed) | Asset |
| Investment account values (ISA, pension, SIPP, GIA, crypto) | Asset |
| General assets (electronics, jewellery, art, collectibles) | Asset |
| Property current value | Asset |
| Credit card balances | Liability |
| Mortgage outstanding balance | Liability |
Account types and net worth
Each account type contributes differently to your net worth calculation:
- Bank accounts: current, savings, fixed-term, joint, and business accounts. Balances count as assets. Use manual or calculated balance mode from transactions to keep them accurate.
- Investment accounts: ISAs, pensions, SIPPs, general investment accounts, and crypto holdings. Values count as assets. Update periodically — staleness indicators flag accounts that have not been refreshed.
- Credit cards: balances count as liabilities. Includes all cards tracked in LifeAxis, with utilisation and deal tracking.
- Properties: current market value counts as an asset; mortgage outstanding balance counts as a liability. Equity is calculated automatically.
- General assets: high-value items like vehicles, jewellery, and electronics included at their recorded value.
Choosing what to include
Every account, investment account, and credit card has an Include in net worth toggle. Turn this off for any account you want to exclude — for example, a business account that is not part of your personal finances.
On the Wealth Dashboard
Your net worth figure is masked by default on the Wealth Dashboard. Tap or click to reveal it. A 30-day change indicator shows whether your net worth has moved up or down, with a trend arrow.
Updating balances
Net worth updates in real time as balances change. There are two ways to keep balances current:
- Manual update: tap any account card and enter the current balance. Each update is timestamped and recorded in the balance history. Staleness indicators appear on the dashboard when an account has not been updated recently.
- Calculated from transactions: switch an account to calculated balance mode and LifeAxis derives the current balance from a starting point plus all logged transactions. The balance updates automatically each time a transaction is recorded.
Comparing balances
The balance comparison shows how each account has moved since your last update — so you can see at a glance whether balances are trending in the right direction without opening each account individually. A positive indicator means the balance has improved since yesterday's update; a negative indicator means it has fallen.
Statement check vs manual tracking
When you record balances manually, there can be a gap between what you have entered and what your bank statement shows. The balance reconciliation tool compares your manually entered balance against the balance calculated from your logged transactions. If the two figures differ, it helps you identify whether a transaction is missing, a balance entry is outdated, or a payment has cleared that has not yet been recorded. Running a reconciliation periodically keeps your net worth figure reliable.