When net worth is calculated on daily basis, we add total expenditure of a day on a work sheet or on a sheet of paper or using excel , then we add the total expense of each day using excel or by calculator or by Using mental Math.
Now, coming to monthly expenses, we add total expenditure of 12 month using excel or on a rough sheet of paper or by using calculator .
For, example, A shopkeeper sells 50 ice cream in a day , making a total expense of $ 240 in a day to earn a profit of $ 250.So we can calculate his day to day expense as well as earning on a excel sheet. Similarly we can find his yearly expense or income by adding his monthly income.
The main difference in the calculation of net worth and a day-to-day or month-to-month tallying of expenses is:
This refers to the mathematical calculation of the total value of all assets of a person which is then subtracted by the total cost of liabilities.
With this in mind, the main difference in the calculation of net worth and a day-to-day or month-to-month tallying of expenses is that Net worth makes use of total value of assets and liabilities, while day to day expenses makes use of periodic calculations of assets
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