
I was recently introduced to NetworthIQ and gave it a try. NetworthIQ is a social personal finance manager designed to make monitoring your net worth easy and fun. Best of all it’s free! To say the least, I was impressed. To keep it short, here are the things I liked about NetworthIQ:

When you get to the site, the sign up process is simple. You indicate your age, location, income, joint vs. single status, occupation, and education.
The next step is to create your first Net Worth entry. This is also easy. Simply go to “My Portfolio” and click on “Add New Entry.” At this point you fill in information about your assets and liabilities:
You will notice that the categories are limited, which makes it easy to fill out. However, you may have to put assets or liabilities into the wrong category if one does not exist. But I think this is sufficient for most users.
Once you create your first Net Worth entry, you can click on the “Comparison Report” tab and get a cool chart (below) and a basic comparison report to other users within the same group, by age, income, occupation, education, and state. Neat!

Of course, some users can leave false information and make the comparison report less effective.
The next feature that I really like is their Questions, Journals, and Tips sections. Basically, they are discussion forums. When a user asks a question, record an entry in the journal, or write a tip, a new entry in the public blog space is created. Other users can browse the topic and leave replies, similar to post and comments. The topics are generally good. There is also more accountability than other forums because you can click on the profile link to see who is giving you the advice. For me, I would think twice before taking investment advice from someone who has no stock portfolio, or a negative net worth.
One thing I wish I could do is have a personalized list of all the discussions I participated in, or some sort of email notification to let me know that someone added a reply to the conversation.
In case you are curious, here is my profile page on NetworthIQ. And if you are into personal finance, I think you will like it. Give it a try!

All posts by Pinyo
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| High Interest Savings Accounts | 1.51% |
| High Yield CDs (1-year) | 1.60% |
| High Yield Checking Accounts | 1.46% |
| Best Credit Card | TrueEarnings® |
| 0% APR Balance Transfer | 12 mo |
| Lowest Interest Rate | 9.75% |
| Best Cash Back Reward | 5% |
http://www.networthiq.com is what got started in the blog world. Their are some great discussions, and some people even discuss their investment strategies, and lessons learned on a monthly basis as the market goes up and down. There’s a lot to lean on this site.
Wow, thanks for the excellent review. This is great and am glad you like the site. The discussion tracking improvements are definitely high on my list.
Ryan – welcome to Moolanomy. I am always happy to review sites that are useful. I think NetworthIQ is great. Keep up the good work!