assets vs liabilities
TRANSCRIPT
AssetsN
et W
orth
Liabi
litie
sA
sset
s
Balance Sheet: Assets
Assets: End of July 2007
Car
Furniture
Savings Account
Total Assets
15,000
500
1,000
16,500
$
$
$
$
© 2007 DollarCamp. All Rights Reserved.
LiabilitesN
et W
orth
Ass
ets
Balance Sheet: Liabilites
Liabi
litie
s
Liabilities: End of July 2007
Car Loan
Student Loan
Credit Cards
Total Liabilites
8,000
25,000
3,000
36,000
$
$
$
$
© 2007 DollarCamp. All Rights Reserved.
Liabi
litie
s
Net WoN
et W
orth
Ass
ets
Balance Sheet: Net Worth
Balance Sheet - Static Amount Owned/Owed at a Given Point in Time
Balance: End of July 2007 Get your Net Worth as High as Possible by:
• Reducing Liabilites
• Increasing Assets
Net Worth = Assets – Liabilites
Net Worth = $16,000 – $36,000 = (19,500) Your Net Worth is Negative $19,500 This means you OWE more than you OWN
© 2007 DollarCamp. All Rights Reserved.