Asset and Liability - Jack Finances

 

Asset and Liability - Jack Finances

Asset:-

       The asset is a key to make more money, the asset is used to fix your money for future use, such as investing in bonds, stocks, Gold, Rental property which will give you more money that is known as an asset. 

for ex:- If you have the money to buy a new car, then it will take all your saving form your pocket

  so just key your old car, and put that same money in a paper investment, bonds, or any business you can expect an annual return of 8-10%.

           Rich people do not work for money.
           They make their money work for them
           The  rich invest in assets rather than liabilities so they can passively produce more wealth

                                                                    - Think and grow rich   

                               

Liability-

                       Liability is the process that will take your all money. Liability cause expenses, or take money out of your pocket.

    for ex:- If you have more money in your savings account and decide to go shopping, smoking, drinking then you will be spending all your money on the liability.

Asset and Liability - Jack Finances

FAQ of Asset and Liability:-

1:- What are the 3 types of Assets?

The three types of assets are 

1- Financial asset

2- Fixed asset 

3- Current asset

2:-What are the list of Assets?

   The list of the asset is ;

1- Bonds 

2-Stock

3- Gold

4- Rental Property 

3:- Is Vehicle is Liability or Asset?

Vehicle loan is a liability , it will take all your money from your pocket.

4:-What are the  2 main types of  Liability?

The two main types of liability are:-

1- Current Liability 

2-Non Current Liability