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Money Monday #5 – Know Your Assets and Liabilities

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Various Federal Reserve Notes, c.1995. Only th...
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Welcome to another edition of #MM # Money Monday, your weekly guide to better money management and more.

The Money Tweet: “#mm #MoneyMonday ”Know Your Assets & Liabilities” it’s a key essential in the progress of reducing debt & cost while gaining profits & value ”

Today’s post is about, knowing your Assets and Liabilities.  I lot of people don’t consider tracking their money, and pay attention to thing that may cost them money over time.  When you think of money, you should also think of value and investments, costs.  Those are key factors within accounting business and that shows how well a business is doing and managing itself.

For example, a car may be looked at as an asset based on it purpose for it holds value and is considered a property. If you use your car for productivity such as ease of travel, business motives that involves making more money, then a car is a great asset and a worthy investment.  But once a car is constantly breaking down or you a bad driver and the car constantly is getting damaged and the cost super exceeds the actual value of the car, then its costly liabilities and will eventually land you in the poor house.

Another example, your savings or checking account with funds within is considered an asset because it is cash or a money value, but it can be set as an issue if you have little funds within or overdraw your account and you are paying fees back to the bank for overdrawn amounts.

So please look through your expenses, properties, investments, savings and much more, I would recommend monthly or at least quarterly to define and asset what is an asset and what is a liability and if they have changed over time.  To know if you are not in debt or you are seeing profits over time, the equation is simple.  Liabilities – Assets = Profit/Loss.  If it a positive number of course its a profit, but if it is a negative number that is a loss.

Thanks for tuning in to Money Monday
“Remember to always get your money right.”
Richardo

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Money Monday #4 – Make Your Money Smarter

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Money Bag in Blue

Welcome to another edition of #MM #Money Monday your weekly guide to better money management and more.

This week’s tip is about making your money smarter.

When I say make your money smarter, it’s just a tip to say, use your money towards smarter acts, such as classes to educate yourself or teach your self a skill that may result in a boost of income or salary. So if you job insist that if you learn say Microsoft word and excel to make you qualify for a better position and higher pay grade, it would be a reasonable investment to using your money for a smart reason. Now it has to be justified the cost of the training and that you are ready to make it happen. Don’t go using all your money for classes or training and not complete it or be left out there without backup funds in case of an emergency. So think, smart money and use it wisely.

Thanks For Reading
Remember to always get your money right.
Richardo

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Money Monday #3 – Simple Money Mistakes

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Welcome to another edition of Money Monday. Money Monday is brought to you by Blackberry Mobile Media.

Money Monday #3 – Simple Money Mistakes

The Money Tweet: “#mm #MoneyMonday “Watch out for Simple Money Mistakes” like dropping your money or leaving your money lying around. That shows neglect.”

A lot of people are not great handling their money, literally. How can you account for your money when you can find it or you left it on the bus in your seat or have it lying around the house on the floor or where ever. Don’t lose your money to these simple mistakes.

People be responsible and claim your money. Don’t lose your money before you even get a chance to touch it, spend it or save it.

3 Quick Techniques to Avoid Money Mistakes.
1. Get Paid, then BANK it. Direct Deposit is awesome for this method.
2. Have loose change, drop it a change box or pan, or convert to cash at your local bank or supermarket.
3. Invest in a good wallet or purse and create a method carrying money. Rules such as not carrying more than xyz amount at a single time, or minimum cash and your debit card, or not holding too much money in one single pocket.

Well following those simple rules or techniques shall help you handle your money so much better and help putting your money to good use.

Thanks for tuning in to another Money Monday.
Remember to always get your money right.
Richardo

Posted by Blackberry Mobile Media

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