Personal Assets and Liabilities
Your Personal assets and Liabilities is the focus on this module. It is also very helpful to give you a starting point to be able to create a plan to make you millions and an income for life.
Let’s start with some terminology. In short an asset is an object of value. As examples this could be cash or property. A liability is a debt, money you owe.
The first step is to get a paper and pen and list all your major assets and their value. Once you have your list, sum up your assets, this defines your total assets.
Then start a second list of all your liabilities, remember these are your debts. Then sum the full amount of your debts, this defines your total liabilities.
The next step in this process is to take your total assets minus your total liabilities. This tells you your current net worth.
Your fun task is to create your own personal asset and liability statement.
List all your assets and their value
List all your debts and their value
Define your current net worth
How does this make you feel?
For your Personal Asset and Liability Worksheet click on the document below.
Let’s start with some terminology. In short an asset is an object of value. As examples this could be cash or property. A liability is a debt, money you owe.
The first step is to get a paper and pen and list all your major assets and their value. Once you have your list, sum up your assets, this defines your total assets.
Then start a second list of all your liabilities, remember these are your debts. Then sum the full amount of your debts, this defines your total liabilities.
The next step in this process is to take your total assets minus your total liabilities. This tells you your current net worth.
Your fun task is to create your own personal asset and liability statement.
List all your assets and their value
List all your debts and their value
Define your current net worth
How does this make you feel?
For your Personal Asset and Liability Worksheet click on the document below.
| personal_asset_and_liability_statement.pdf |