With the rapidly changing territory of personal finance, if you become familiar with just the basic fundamentals, it’s going to give you some advantage. Assets and liabilities are the two main players in this financial game. Whether you’re a seasoned investor or a financial newbie who doesn’t know one end of the risk spectrum from […]
Raising your credit score might help you get better loan conditions and interest rates. That’s true whether you require a loan for personal reasons (a mortgage, a car, a credit card, etc.) or commercial purposes (buying supplies, renting office space, etc.). Credit repair is like expanding your professional network; you give it thought only when […]
“To get rich, you have to be making money while you’re asleep.” – David Bailey Whatever your financial situation is, having the knowledge to recognize the difference between assets and liabilities plays a crucial part for creating wealth in your journey to financial freedom. It’s a basic understanding that you need to have for dealing […]
Let’s start with bad debt. What is Bad Debt? Bad debt is usually obvious and sometimes it’s not. Let’s break it down…bad debt is money we borrow to pay for something that will not increase in value and/or not pay us back after we make the purchase. A clear cut, prime example is using a […]
For many of us today, debt is just a fact of life. It’s how we pay for just about everything from the homes we live in, to the cars we drive and even down to the small, day to day purchases like food, gas, that daily cup of coffee (or two, or three), etc. No […]
The difference between assets and liabilities is simply put in this way, an asset is something which generates an income or said differently, puts money in our pocket and a liability is something that is an expense or takes money from our pocket. In order for us to build wealth, we need to focus and […]
There really are two sides to debt. In general debt is typically bad, but on the flip side, there is good debt. What is good debt? Good debt is money you borrow to pay for something that will increase in value and/or will pay you back after you make the purchase. An example of debt […]
You may have heard that not all debt is the same and there’s a misconception about what you might consider good debt, when in reality it may be bad! Bad debt is usually obvious and sometimes it’s not. So, what is bad debt? Let’s break it down…bad debt is money you borrow to pay for […]
For a lot of people today, debt is nothing more than an unavoidable part of life. It could even be how you pay for just about everything from the home you might be living in, to the car you drive and even down to the small, day to day purchases like food, gas and that […]
As important as it is to your financial health, sometimes the difference between assets and liabilities is obvious and sometimes it’s not. What may at first be a liability can become an asset or vise-versa. For example, when you buy a home, that home is a liability because unless you buy it with cash, the […]