Assets and Liabilities: Understanding the Difference

In the world of personal finance, there are two important terms that are good to know: assets and liabilities. Assets are things that you own that have value, while liabilities are things that you owe. 

By understanding the difference between assets and liabilities, you can get a better understanding of your financial situation and improve your ability to reach your financial goals, whether you want to plan for a FIRE lifestyle or otherwise. 

Assets and liabilities are the two sides of the balance sheet, and they provide a snapshot of your financial health, so it’s a good idea to get familiar with the value of each of yours.

In this article, I’m going to explain the difference between assets and liabilities and give you the information you’ll need to help you understand your net worth.

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Would you like to start a business, side hustle, or passion project in a writing field?

Perhaps you’ve reached a point in your career where you can retire early and you’re looking for something to do with your free time, or maybe you always dreamed of starting a business. 

On the other hand, you might just be looking for a new passion project to light up your life, and you’re certain writing is ‘wright’ for you.

In any case, a writing business can be super rewarding, but it can also be a lot of work. It all depends on what you want to get out of your pursuit.

To be successful, you’re going to need some useful tools, and in this article, I’m going to give you the top 10 tools that you can start using to support your writing business goals – TODAY.

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So you’ve earned yourself a little extra time, or perhaps you’re just looking for a new hobby, but now you might be wondering, “Exactly, how do you choose a passion project?”

Look no further because I’m about to give you some key tips on how to choose a new pursuit that you’ll find fulfilling.

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