Scribd Logo
Upload

Welcome to Scribd!

  • Financial Literacy Notes

    Uploaded by

    umk6rk84
    68 views2 pages
    Net worth is calculated by subtracting total liabilities from total assets. Assets are possessions with monetary value like a house, car, or investments, while liabilities are debts from items such as a mortgage, loans, or credit cards. Tracking one's net worth by calculating assets and liabilities provides a measure of financial wealth.

    Original Description:

    Original Title

    Financial Literacy Notes.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Net worth is calculated by subtracting total liabilities from total assets. Assets are possessions with monetary value like a house, car, or investments, while liabilities are debts from items such as a mortgage, loans, or credit cards. Tracking one's net worth by calculating assets and liabilities provides a measure of financial wealth.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    68 views2 pages

    Financial Literacy Notes

    Uploaded by

    umk6rk84
    Net worth is calculated by subtracting total liabilities from total assets. Assets are possessions with monetary value like a house, car, or investments, while liabilities are debts from items such as a mortgage, loans, or credit cards. Tracking one's net worth by calculating assets and liabilities provides a measure of financial wealth.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Financial Literacy Notes

    Net worth:
    • Assets – liabilities = net worth
    • Wealth
    • Measure of Financial Wealth

    ASSETS – LIABILITIES = NET WORTH

    Assets
    • Possessions with monetary value
    – Car
    – House
    – Computer
    – Business
    – Stocks and bonds
    – CD
    – Money Market Account
    Liabilities
    • Debt; financial obligations
    – Mortgage
    – Loan
    – Lease
    – Credit card debt
    – College; student loans
    – Rent

    You might also like