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business · money · Money Monday

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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I am down with O.P.P. in 2011

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O.P.P. (song)
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With the theme of being myself this year to the maximum, I am really and truly down with O.P.P.  Are you down with O.P.P.?  O.P.P. means to me in 2011, Organization, Preparation and Presentation.  Those are going to be major focus this year.  I am taking it back a little to the days when I use to execute quite a few movements with some crazy techniques and measures that made me very successful to this day.

Do you have methods you use to follow back in the days to lead to success?

Thanks for reading
Richardo

money · Money Monday · PostAday2011

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