People get all mixed up about what is an asset and what is a liability.
Here at Advancing to Greater we're going to set you straight so you can move forward in your life - confidently, and with a simple definition that just makes sense.
Here at Advancing to Greater we're going to set you straight so you can move forward in your life - confidently, and with a simple definition that just makes sense.
Assets put money into your accounts on a regular basis
Your house doesn't meet this qualification.
Neither does your car or that signed jersey from your favorite athlete.
Stocks and bonds are assets.
Businesses you own are assets.
Cash earning interest at a bank is an asset.
Liabilities pull money out of your accounts on a regular basis
Your mortgage, your house, and your credit cards are liabilities.
Your car is a liability.
