Understanding Assets And Liabilities
Assets and Liabilities – Are you working for your money or is your money working for you?Assets and Liabilities are two of the most misunderstood things in this world and for most who do not have great financial habits understanding them is one thing that can help tremendously to bring things in line for you. "An Asset is something that puts money into your pocket without the need to work for it."Using money you have earned to invest into a venture that makes you more money (over and above your original investment) is an Asset. Renting out a house you own (as long as the rent collected covers your costs) is an asset. Money in savings or money loaned out that is collecting interest for you is an asset. Shares bought in a well chosen, high performing company that gives you a hand...
