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WTF Are Assets & Liabilities? 🤨

Take a deep breath. It's okay. I'm going to make this easy to understand.

You've got assets. You've got liabilities. Keep reading to see what's the difference!⬇

Almost everything you have has a monetary value. It could be worth hundreds or $2. Everything has a value. \

Assets are a valuable thing, person, or quality.

Liabilities is the state of being responsible for something, especially by law.

Examples of ASSETS ARE

  • bank & money market accounts

  • land

  • rental property

  • furnishings

  • house

  • jewelry

  • cash on hand

  • stocks & bonds

  • whole life insurance

  • electronic equipment


  • mortgages

  • home equity loans

  • vehicle loans

  • student loans

  • credit card balances

  • real estate taxes

  • alimony

  • child support

  • unpaid bills due

You should always want more assets than liabilities to be financially smart about how you're managing your money. If you'd like to learn more about assets and liabilities, watch this video below!

I hope this was easy to understand and learn about! Stay tuned for the next post!

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