Name: Valeria Elenes Garacia

Date: 27 january 2021

Chapter: 2

Vocabulary
Word Part of speech Definition in english synonyms
1. assets noun property owned by a person or company property
2. liabilities noun a thing for which someone is responsible, debt
especially a debt or financial obligation.
3. Accountant noun accountants are responsible for a wide bookkeeper
range of finance-related tasks,
4. novicer noun accountants are responsible for a wide begineer
range of finance-related tasks,
5. illiteracy noun the inability to read or write. ignoance
6. Naught noun nothing nothing
7. cringe verb bend one's head and body in fear or in a cower
servile manner.
8. compound verb make (something bad) worse aggravate
9. inheritance noun the action of inheriting. legacy
10. solely adverb not involving anyone or anything else only

Chapter summary. One paragraph in your own words

On chapter two they explain un a bit of how to become rich, they talk about how normal people
think that more money would solve all their problems; when in reallity the main problem does not
consist in not having enough money, it consist in not knowing how to manage it properlly. In this
chapter they talk about ¨ assets and liabilities¨ I myself still cant undestand the whole concept of
this two words but the book says that: Rich people acquire assets. The poor and middle class
acquire liabilities that they think are assets. So at least I know I must never confuse these two,
what I don’t know is that the way he manages money in the united states will work here too, in
the United States it appears they charge taxes for absolutely everithing, ebven working, they take
a piece of your paycheck even after you get it, and if yyou plan on buying expensive things they
can charge you for that as well. So he explains that while making money you should never spend
more than what you make, and always be aware of the extra costs that buying new stuff can
make.