How can I add household members to my account?
Last Updated: 1 August, 2025Click on Household members, enter individual email id in text box which says Email and click on “Invite” button. An email would be sent to the individual asking them to register themselves on the platform. By default, all invited household members...
How Do I Know If Something Is a Liability?
Last Updated: 1 August, 2025A liability is anything you owe to others – money, services, or obligations. To identify if something is a liability, ask yourself: “Do I owe this to someone else?” Simple Liability Test: 1. Do you owe money? If yes, it’s...
How Do I Know If Something Is an Asset?
Last Updated: 1 August, 2025An asset is anything you own that has current or future economic value. To identify if something is an asset, ask yourself: “Does this item have monetary value and do I own it?” Asset Definition: An asset provides economic benefit...
How to Calculate Net Worth
Last Updated: 1 August, 2025Calculating net worth is simple using the fundamental formula: Net Worth = Total Assets – Total Liabilities. This calculation shows your true financial position and wealth. The Net Worth Formula Explained: Net Worth = Assets – Liabilities Step-by-Step Net Worth...
Liabilities vs. Assets vs. Owner’s equity
Last Updated: 1 August, 2025The accounting equation is the fundamental formula that shows how these three components relate: Assets = Liabilities + Owner’s Equity. Understanding Each Component: Assets: Everything you own that has value – Cash and bank accounts – Property and real estate...
