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Allow user to choose what accounts count toward Net Worth

Klaxwave

I keep track of gift/benefits cards in Simplifi as well as my traditional banking. I get that theoretically all potential money is part of your net worth. But there is a major difference in liquidity between a card I can use at a specific store for specific items versus actual money or things easily translatable to actual money like investments, so having them lumped together is a bit useless to me. Though I have those cards set to not appear in my Spending Plan or Reports, it would be nice if I could also opt them out of my net worth calculation so I can more readily see my usable assets vs my debts.

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Feature Request

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Status: Active

Comments

DannyB

Hi @Klaxwave giving the user flexibility and choices is a good thing I think. The developers are (we hope) close to restoring a new and improved net worth report that may include this ability. But just for fun, how big of an impact do your gift/benefit cards have on your overall net worth. I don't usually think of net worth in terms of liquidity or available to spend as much as a matter of accumulation over time. I think of NW as one of those “vitals” like blood pressure and heart rate. Is my net worth going up or dropping and what does that mean as far as my overall financial health. Nevertheless adding an “Exclude from Net Worth” selection when setting up accounts may be a useful feature.

RobWilk

This goes along with the ‘hide account’ feature they're working on. Alongside that option, a separate toggle called ‘include in net worth’ might be nice.

And hiding accounts shouldn't automatically remove from net worth, and not including from net worth shouldn't necessarily hide an account.

Klaxwave

https://community.simplifimoney.com/discussion/comment/14006#Comment_14006

The vitals is a good analogy. However, in my circumstance, my sums are so low that I am essentially a coma patient. Having a $30 renewable monthly food card does make a notable difference in terms of what I will (or won't) eat tonight, and I'm at a stage where I'm not likely to make very much more money anytime soon, nor will I get any major increases in credit like a mortgage or car loan, nor will I have very large investments. All I've got are small potatoes, so it would be nice to have an accurate reading of exactly how small said potatoes are.

NiceTry0678

I am moving over to Simplifi from Mint. In Mint I am able to hide accounts everywhere without losing transactions on the account. The transactions are there but just hidden, so I can see them if I unhide them. One application where this is important is in the net worth that is displayed on the dashboard in Simplifi. I manage an account that I do not want to appear in my net worth but neither do I want to delete the account from Simplifi. So the option to hide this account without deleting it would be appreciated.

RamC

https://community.simplifimoney.com/discussion/comment/19361#Comment_19361

Looks like this is not available yet and I don't think they have this on their Roadmap. I am coming over from Mint as well and will miss this feature a lot in SImplifi.

RamC

Is there anyway to convert this into an idea?