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Alicia’s Day 37 – Assets & Liabilities

Today’s lesson was a good reminder to me. Although I don’t take care of the money matters in the house, is very important for me to know our assets or liabilities. I can’t help work towards financial well-being if I’m not aware of what’s going on with our money.

I also like how this lesson simplified the meanings of assets and liabilities. Usually when we talk finances, my eyes glaze over and my mind begins to wander. I’m not sure if talking about financial things makes me bored out of my mind or if its above my head (since Math has never been my thing), but the simplified definitions really made a difference to me.

Assets are anything that brings you money, while liabilities are anything that cost money. You can’t acquire significant assets if you’re always spending your money on liabilities that pop into your mind or jump into your shopping cart.

I got a little behind on the to-dos for this lesson because I have to find some time to sit down with my husband go over the numbers. Not a difficult thing to do, but a tough thing to schedule during a busy week. I will try to do that over the weekend so I can add it to my notebook. 🙂