How to Do a Net Worth Audit (And Why It’ll Motivate You)

The Personal Finance Podcast

Andrew Giancola

Entrepreneurship, Investing, Business

4.6 • 1.2K Ratings

🗓️ 10 December 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Get Your Networth Audit Checklist here. Join the community built to help you master your money, stay accountable, and reach financial freedom. 👉 Join Master Money Academy today! In this episode of The Personal Finance Podcast, Andrew reveals why tracking your net worth is more powerful than budgeting and shows you exactly how to perform a net worth audit step-by-step. He breaks down what to include and exclude in your calculation, common mistakes people make, why tracking this one number automatically makes you better with money, and the seven high-leverage actions you can take over the next 12 months to grow your net worth faster than ever before. Listen to The Business Show here. Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Partner Deals Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at Indeed.com/personalfinance Get 50% Off Monarch, the all-in-one financial tool at www.monarch.com/PFP Chime: Start your credit journey with Chime. Sign-up takes only two minutes and doesn’t affect your credit score. Get started at chime.com/ DELL: Get a new Dell AI PC starting at $749.99, at Dell.com/ai-pc. Policy Genius: Go to policygenius.com to get your free life insurance quote. Shopify: Shopify makes it so easy to sell. Sign up for a one-dollar-per-month trial period at shopify.com/pfp Wayfair: Shop outdoor furniture, grills, lawn games, and WAY more for WAY less DeleteMe: Go to https://joindeleteme.com/PFP20/ and Use Promo Code PFP for 20% off! Resources Mentioned How to Automate Your Finances (Money on Autopilot!) The 1-3-6 Method For Building & Managing Your Emergency Fund 5 Side-Hustles That Can Turn into a Full time Income! 5 Side-Hustles That Can Turn into a Full time Income! (Part 2) 5 Side Hustles That Can Turn into a Full Time Income! (Part 3) Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel The Master Money Newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	shop with Rackerton and you'll get it. What's it? It's the best deal. Great cashback rates and more savings on your shopping. So join Rackerton and get cashback at over 500 brands like Marks and Spencer, Nike and end clothing. You can even shop the sales and still get cash back. Just start your shopping with Rackerton to save money at over 500 brands. Join for free at racketon.com.uk or get the Rackerton app.
0:23.2	That's R-A-K-U-T-E-N.
0:26.0	On this episode of the Personal Finance Podcast,
0:29.3	how to do a net worth audit and why it'll change your life.
0:47.3	Ooh. What's up everybody and welcome to the personal finance podcast? I'm your host,
0:52.9	Andrew, founder of mastermoney.com. And today on the personal finance podcast, we're going to talk about why you should do a net worth
0:54.2	audit and why it'll change your life. If you guys have any questions, make sure you join that
0:58.5	mastermoney newsletter by going to mastermoney.co slash newsletter. And don't forget to follow us on
1:04.3	Spotify, Apple Podcasts, YouTube, or whatever podcast player, you love listening to this podcast
1:09.5	on it. If you want to hop out the show,
1:11.4	consider leaving a five-star rating and review on Apple Podcasts, Spotify,
1:15.4	or your favorite podcast player.
1:17.7	Now, today we're going to be diving into how to do a net worth audit.
1:21.0	And I'm going to teach you how to increase your net worth dramatically over the course
1:25.2	of the next 12 months.
1:26.8	See, most people think that they need a budget
1:29.1	to turn their finances around, but that's not necessarily true. What they really need is to learn
1:34.0	how to do a net worth audit and then develop a system and put this system into place that is going
1:38.7	to help you increase your net worth over time. Because here's the crazy thing. You can budget for 20
1:43.8	years and never build wealth because you're focusing on the crazy thing. You can budget for 20 years and never build
1:45.0	wealth because you're focusing on the wrong things. If you're not looking at the scorecard,
1:49.6	which is your net worth, this is what's going to make the dramatic changes in your financial life.
	...

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