regarding ~ LIABILITIES

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 …

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regarding ~ ASSETS

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 …

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regarding ~ INVESTMENTS

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 …

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regarding ~ COMPOUND INTEREST

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 …

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regarding ~ ACCOUNTABILITY

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 …

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regarding ~ INTEREST

Dear Daughter, The word Interest has a few definitions depending on context.  The reason I bring this up is that two of them apply to this particular Memo at the same time.  One definition is – your desire to learn about something or someone.  Another definition is – money paid for the use of money lent. Now, …

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regarding ~ INCOME

Dear Daughter, This is where it all begins.  Income, in its most simple form, is money you receive for doing work.  That’s it!  Memo complete!  Move on. Okay, I’m pretty sure you know that an explanation from me is never that short……sorry about that but listen up. While that definition is accurate, it does not go …

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