Dear Daughter, Liabilities are the exact opposite of Assets. A Liability is something that you owe to a person or business. Put a different way, Assets you OWN and Liabilities you OWE. Liabilities and Debts are basically the same things and are often used interchangeably. The differences occur when you start examining them on the …
Dear Daughter, In addition to Asset being a very funny word to say and spell, it is also the thing you want to accumulate the most of. I know….eewwwwwaaa! In the financial world though, an Asset is something of monetary value that you own. So, what has monetary value? Well, first of all, your money …
Dear Daughter, To Invest in something is simply to put your money to work for you in different ways in order to make more money. There are so many different ways to Invest that it can seem confusing and intimidating. We have already talked about the Interest you earn by putting your money into the …
Dear Daughter, One of the many perks of writing this blog is that I get to research a bunch of stuff before sharing it with you to make sure that what I think is correct, in fact, is correct. I have found that when doing this research, I often end up veering off and searching …
Dear Daughter, So here’s the deal, Compound Interest is THE best friend of anyone saving money. Compound Interest also works much better when you have more time to save, as you’ll soon see. This is yet another reason to begin saving early in life. The really cool part about Compound Interest is that it works …
Dear Daughter, There are few traits I can think of both in my personal life and my financial life that have had more of an impact on me than Personal Accountability. Accountability is just a noun with a very simple definition: the fact or condition of being accountable; responsibility. To me, one cannot move forward …
