Add a Net Worth Report [edited] (2 Merged Votes)

Isaacymmas

Not sure why this simple function is not available.  If anything, could you make an option to download my data and I can chart my own net worth over time.

RobWilk

Isaacymmas said:

Not sure why this simple function is not available.  If anything, could you make an option to download my data and I can chart my own net worth over time.

This is just a guess, but it seems there used to be a net worth chart and they took it away-- and i think it had bad data so they just took it off until they could (ideally) fix it.  I noticed in the last (about) month, two bugs were fixed with respect to calculating balances.  One was about balances on manual account, and one was about past balances on the cash flow chart.  Perhaps these two fixes will bring them closer to where they could do a net worth chart, but God only knows if/when that will happen

RobWilk

*bump* -- @Coach Natalie how about an update on this?  I know we can get past balances right on the cash flow chart (which we didn't have right as of 2-3 months ago), but now that is giving accurate past balances, so how about getting a net worth history report/chart?  May 24th was the last update, so it's been 4.5 months since we heard anything.

Coach Natalie

Hello @RobWilk,

Thanks for reaching out!

Sadly, there is no further update to provide on the Net Worth Report at this time. As soon as any news becomes available, we'll be sure to update this post accordingly.

Thank you for your patience!

-Coach Natalie

DannyB

Just for the fun of the exercise:

• What are you looking for in a net worth report?
• What is the value in a net worth report?
• What is important to include in such a report?
• How do/will you use a net worth report?

Just think it would be interesting to hear some feedback on this.

RobWilk

@DannyB Admittedly, I found the savings chart is LIKE a net worth report for my purposes - but that's only because i'm keeping credit cards at zero and anything i'm not spending is going in savings.

The net worth picture is a picture of my health with respect to Bipolar Disorder.  When I'm manic, net worth goes down rapidly -- when i'm well, it's about flat to increasing.

Looking at current net worth is not useful because it doesn't show where it was a few weeks ago, a month or more ago, etc.  In other words, let's say last October net worth was at $10,000.  And by late October it was like $4000, and by the end of November it was negative $10,000  (and I spent the month of December in the hospital).  This is 'close to reality'.  If I could witness the change while it was happening, it would tell me my health is off. 

RobWilk

Let me add a brief piece of health information related to my post  - -  Bipolar Disorder is a mental health condition containing episodes of mania and depression.  In mania, a key symptom is 'spending beyond your means'.  Increased spending isn't automatically a problem, but when net worth is decreasing rapidly, it should be evident one is spending beyond their means (It would generally only go down if i spent more in that month than i had in income that month).  There are other features of mania that accompany it, they include racing thoughts, gradiosity, talking very rapidly, feeling full of great new ideas and having important plans, being easily distracted, easily irritated or agitated, and more.

In my case, bipolar disorder is schizoaffective disorder, bipolar type -- which means schizophrenia symptoms (hallucinations, delusions) are what causes the bipolar mania.

1 in 5 people experience a severe mental illness

Flopbot

@RobWilk, the extra background certainly helps understand where you're coming from - thank you.  Just to understand it a bit better, when your spending goes way up during the episodes of mania and depression, is it historically in certain Categories or for certain Payees?  Or, is it more more across the board?  Or, is it just that CC spending in general goes way way up?

RobWilk

@Flopbot across payees.   For example, my biggest expenses incuded Math software ($3000), microsoft partner subscription ($600), and various others.. also $2000 worth of auto body work on a 2007 car

Flopbot

@RobWilk I was thinking about this in the car this morning.  If I understand correctly, it sounds like you use Simplifi>Reports>"Savings" and - would use - the requested "Net Worth Over Time" report to keep an eye on several historical indicating factors RETROACTIVELY.  Both these options force you to actively and regularly seek them out.

Simplifi could perhaps play a more active role if you set up a Watchlist (or several) to push out notifications in the event that spending was significantly higher one month vs the historical average.  Granted, this wouldn't be perfect, but if you got several Push notifications from several different indicator Watchlists, then maybe that would give you something useful to go off of?

For example, if your indicator categories were "Software" & "Subscriptions" (as an example) and you created a Watchlist (or several), you could set the Push Notifications and Emails to trigger if they went over a certain MUCH HIGHER THAN NORMAL amount.  In this screenshot, the average spending is $84.65.  In just playing around, I set the notification (yellow line) to $150.



Another option would be to see if you can tweak a few of the Simplifi>Settings>Notifications to also alert you via Push Notification or Email.  For example, maybe you could tweak (EDIT) the High credit card balance to alert you?



Depending on what email provider you use, you could even set up filters that would automatically forward on any key indicator emails to someone else (family member, doctor, accountability partner, etc.).

Feel free to ignore this if it ain't helpful.  Just a couple of thoughts I was thinking about.

RobWilk

It's helpful.... but they are hard at work on the net worth report according to status of this idea..   i look forward to it working again.

steven1203

Have a historical graph to see your total net worth over time. As a user that is trying to grow net worth, being able to see where we were at different points in time would make that much easier to track.

Another cool feature for this could be to show a cumulative graph of cash, investments, assets/property, and debts/loans. So you get a historical breakdown of your net worth.

It would also be helpful to have it calculate the total gain/loss amount and the % gain/loss between two dates. Even if it were just the current date vs any date, that would be helpful.

RobWilk

There is an existing 'idea' on this...  [removed self-referencing link to merged thread] -- it's been in the works for a while..  I'll vote for it again anyway

MAGiles19

This would be useful too .... add my request for the NewWorth over time report

prcullen

How is this not a core feature available on day 1?

RobWilk

@prcullen I think this -was- a feature, but there were times it was probably badly incorrect, so i think they removed it rather than showing bad data.  

I suspect given the fixes that have come to Simplifi in the last 6-9 months, that it would be easier to bring it back.  There was a fix for 'previous days balances' on cash flow chart (that alone might've been the problem), and also there were some issues with manual accounts (not synced to bank) which they at least partially fixed,

jsy42

I'm really hoping that we get some of these long awaited features, and the roadmap that we were promised months ago, in a Christmas release. 

bbertchie

jsy42 said:

I'm really hoping that we get some of these long awaited features, and the roadmap that we were promised months ago, in a Christmas release. 

I have a strong feeling you will be sadly disappointed. What keeps Simplifi going is it’s aggregator integration. Outside of that, it falls short on so many levels

Coach Natalie

Hello All,

Great news! Our Product Team has been hard at work on restoring the Net Worth Report and they have advised us that we can expect to see it shortly after the new year. 🥳

-Coach Natalie

RobWilk

Happy to see the net worth report is 'included' in the latest web release update, even if it's not going to be turned on right away.

simpli_matt

The reports section has a “Net Income” over time graph, but this is different from net worth over time. The “Dashboard” section shows your current net worth, but does not show a graph of net worth over time. I would value seeing a graph of my Net Worth over time. It seems reasonable to place this in the “Reports” section.

EDIT: I see this idea is already a requested feature in other posts; ignore this and go upvote the other existing posts.

RobWilk

This was “expected shortly after the new year” but has not yet come out as far as i know…

[removed self-referencing link to merged thread]

Coach Natalie

Hello All,

Great news — the Net Worth Report is now available in Early Access!

-Coach Natalie

jsy42

It doesn't appear to include investment accounts. Is that correct?

Coach Natalie

@jsy42, I am seeing both my connected and manual Investment Accounts:

If you're not seeing your Investment Accounts, I'd check the account settings to make sure it's not being ignored from Reports. Otherwise, you'll want to create a separate post to report any issues. 🙂

-Coach Natalie

jsy42

Thanks, that was the issue. I see those in the net worth report now.

RobWilk

This is perfect, I needed this report. It's a very good tool and exactly what i was looking for.

At first I thought when I put more than 6 months in the report the details were missing for other months (below chart) but I quickly discovered i could scroll (two fingers on touch pad) to see other months.

Perfect, thank you.

Tipeknu

Coach Natalie —- Fantastic that it's been released! Wuhoo! I took a quick peek at it yesterday, and it looked like exactly what I'd envisioned.

Today, FYI, I get an error message "Oops! Something went wrong." and it won't open…I recognize it's in "early access" but just thought you should know.

SyriltheCPA

is the net worth report supposed to tie to the amount in the Overview Pane (Accounts Pane)?

DannyB

@SyriltheCPA

Fellow user here, but my frist thought on this is no. As far as I can tell the net worth that is shown in the Accounts Pane is based on all the accounts you have connected to Simplifi and any mannual accunts you have set up. The net worth report in the report modual is based on what accounts you choose to include in reports.