Vylo adds the assets included in Net Worth and subtracts the included debts. For example, $100,000 in assets minus $35,000 in debts gives a net worth of $65,000.
Where do the values come from?
Connected accounts provide balances where supported. You can add manual assets and debts for a home, vehicle, or account that isn’t connected.
Manual values need updating by hand. Connected values depend on the latest information available from your bank.
Why might the total look wrong?
Check for an account counted twice or an item missing from the list. A home and its mortgage are separate items; a connected mortgage and a manual copy of the same mortgage would count the debt twice.
Is this money available to spend?
No. A home’s value is part of net worth, but it isn’t cash in your chequing account. Use your budget to follow monthly spending and Net Worth to follow assets and debts over time.