Everything you own equals everything you owe plus your net worth. Total assets on the left. Total liabilities on the right. The difference between assets and liabilities is net worth. If you own everything on credit, you're going to have a small net worth. If you have no debt and a lot of property and possessions, you're going to have a high net worth. Minimizing debt and wisely increasing assets lead to a healthy financial future.
Wednesday, December 17, 2008
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