How to keep track of net worth with assets in different currencies ?

[richest_man_in_babylon]

Hello,

This is my first post but I've been reading MMM for a while now and learned a lot from the mustachians in here.

I realized that until now I was not tracking my net worth even though I have an approximate estimation in mind, so my New Year's resolution is to start the habit of tracking my net worth and update it monthly.

However, I came across a problem, I am French but currently working in Hong Kong so my salary is in local currency Hong Kong Dollars (HKD) and I have been investing some of my saving in the stock market internationally (HKD, EUR, USD) and I also have my bank account back in my home country in France which is in euro. To make things more complicated, I may on the long term consider moving to another country (Hong Kong is insanely expensive and not very mustachian-friendly), I also used to work in another country in Asia.

I am wondering how do the mustachians in here keep track of their net worth when having assets in different currencies ?

What would be the best way to keep track of my net worth ? Should I just convert everything to my home currency in euro ? Should I keep the "original" currency ? or should I use the exchange rate of the day every time I update my spreadsheet ? I am a bit confused.

I am also wondering if I should take into consideration currency risk when tracking my net worth. When I look back in 2018, the USD has gained so much compared to euro and since HKD is pegged to USD, my net worth may fluctuate just because of currency exchange. Maybe I over-complicating everything ?

Your advise is appreciated !
 
Thanks

[Linea_Norway]

When you FIRE and move to your next country, this money needs at some time to be converted into that country's currency. You can either do that in bulk at some time, or transfer it each month in the future. Currency courses will swing and therefore it is hard to say how much it is worth at any given moment.
So, I would keep keep track of your assets in the valuta they are in and wait with converting until you convert them into your final FIRE currency. Because whatever you would calculate now, it will have another value in the future.

[Kepler]

We have some assets in three different countries at the moment, and are about to move to a fourth country...  This makes us sound a bit more... high flying than we are...  But it does mean we have to keep track of assets in multiple locations.  Like Linda_Norway said, we keep a spreadsheet that tracks each asset in its own currency. 

In addition, although I don't fuss too much over the exact total, I do also keep one running tally that grabs the total from each country, and applies a sort of low-ball average currency exchange rate to each one, to give me a rough sense of what it would add up to if we suddenly needed to pull it all together into the currency of the country where we will be living.  I did realise the other day, though, that this rough tally was somewhat misleading - I was running some numbers in preparation for our move, and realised that, if I applied a more realistic exchange rate, we were much closer to our main FIRE figure than my rough tally shows - not because exchange rates are unusually good right now or anything, but just because I built a little too much pessimism into my rough estimate equation...