traineeinvestor
Thinks s/he gets paid by the post
I use the estimated or actual value of total saleable assets minus liabilities. Keep it simple. It changes daily anyway.
This.
With the modification that I make a monthly accrual for taxes and longer term expenses such as home repairs, taxes and a miscellaneous bucket.
I also do not include assets which I view as consumption items such as our car and wine sitting in a bonded warehouse which will be consumed with little residual value at the end of the day.