Tag: Personal finance

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Just Paid 2 Bills and Feeling Good, I am soon DEBT FREE

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Libyan bills
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Man it feels good to put some money on the books to pay some bills.  I mean it’s one of my favorite things to do.   I know I know, who wants to be pay bills and like doing it?  Well hello, if you have bills and they are in your name, umm who do you think got it there?  But you should be proud to have some bills to pay, that means your name is on some things and you are independent and holding down yours.  And I do hope you are taking care of your bills correctly and making some moves to having a very good credit score, for I know lots and lots of people with their credit down in the gutter.  If you have issues such as those, follow my weekly series Money Monday in which every Monday I teach your money management skills and where to find money and much more.  So make sure you follow me on twitter (@rawmultimedia) also to get the #MT which means the #MoneyTweet, it’s the official money phrase of the week.  With the #MT you can understand what the Monday’s Money Monday post is about.  Anyways, making sure you paying them bills and running away from debt, but still hold your own.

How good is your credit score?  Are you actually going to follow me on twitter? lol

Have a great day

Thanks for reading
Richardo

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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

PS: Subscribe today to get Money Monday posts straight to your email inbox with ease. It’s so easy to subscribe.  Also you can follow us on twitter and see each post every Monday -> @rawmultimedia.

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