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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So you’ve finally done it and achieved the work from home job, good work! Now you’re probably thinking about what you need to do to get your home office setup completed.

I’ve been working from home exclusively since 2019 (and here and there before then), so I’ve been through my share of office supplies.

Now I’m going to give you the top 10 supplies I recommend to complete your work from home office setup. Ready to dive in?

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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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When was the last time you calculated your net worth? Last month… Perhaps last year? Or never?

Now there’s no need to panic if the answer is never. You also don’t need to panic if you know nothing about net worth because I’m about to tell you what you need to know… right now. 

In this article, I’ll provide a brief overview of why net worth is important, how it can support your FIRE goals, how to calculate it, and how understanding your net worth can support your financial situation, regardless of your goals. When you’re done reading you’ll know to calculate your net worth to support your FIRE dreams.

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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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Would you like to retire early? It might sound like a lofty dream, but it’s one of the foundational components of the FIRE movement (Financial Independence Retire Early).

Perhaps you favor a Jaime Lannister approach and would rather work than sit on an Iron Throne. Or maybe your style is a bit more Cersei Lannister and you dream of creating chaos from afar. A FIRE lifestyle is a bit like a choose-your-own-adventure approach to life.

In any case, the FIRE movement has gained traction in recent years, especially among younger generations. Older generations might have been happy working until the prime age of 65 or beyond, but more people are starting to say, “No, thank you,” Olenna Tyrell style.

By following a few simple principles, it is possible for you to build a large enough nest egg to retire early and live a comfortable lifestyle, though it does take effort. The Lannisters didn’t build their fortune overnight either.

In this article, I’ll tell you the benefits of retiring early, how you can use the FIRE formula to plan an early retirement and ways you can be more successful with your FIRE goals.

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The FIRE movement, or Financial Independence Retire Early, is a growing trend that has been gaining popularity, mainly among millennials and Gen Z. 

The idea of “Financial Independence Retire Early” is popular because its rewards are steep: financial freedom, the opportunity to retire early, and spending more time doing what you enjoy. What’s not to love?

The rewards are steep, but so are the challenges.

In this article, I’ll give you 10 compelling reasons to consider joining the FIRE Movement (Financial Independence Retire Early), despite the challenges, plus some tips on how you can get started today.

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Looking for new passion projects to light up your life? Perhaps you’ve achieved your FIRE goals, or more likely you have a ways to go. In any case, you may want to consider starting one of these new passion projects or pursuits.

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If you dream of achieving a FIRE lifestyle, as in Financial Independence and Retire Early, you’ll need to wisely save for FIRE.

The idea of retiring early is appealing to many people. After all, who wouldn’t want to have more time to travel, spend time with family and friends, or pursue hobbies? 

It may be appealing, but it isn’t easy. Retiring early can be a challenge, especially if you don’t have a large nest egg saved up.

In this article, I’ll give you 8 easy-to-follow methods to amp your goals as you save for FIRE.

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Have you ever wondered, “are savings accounts worth it?” If you dream of achieving a FIRE lifestyle, then you’re going to need a safe place to store your hard-earned income. 

You’ll also want some healthy savings strategies so you can secure your money and invest in your future.

A savings account is a relatively safe place to store money. This account is a type of bank account that earns interest on the money you deposit. 

Interest is a percentage of the money you have in the account that is paid to you by the financial institution each month or year. The amount of interest you earn depends on the interest rate of the account, which is set by the bank or credit union.

In this article, I’ll explain the benefits of savings accounts, what you can use your savings account for, and 3 simple ways you can get started today.

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