Grade 3 Lesson 6: Assets
#assets and #liabilities are key concepts to learn in #finance
So what is an #asset?
Assets are things that we own and can be sold to get money. Another way to think about assets is that an asset is something that puts #money into your pocket.
Examples of assets include:
- #House
- #Car
- #Jewelry
- #Investments
- #Gold
- #Antiques
etc.
#Tangible vs. #Intangible assets:
Assets that you can physically touch and feel are called tangible assets e.g., a house, car, gold. Assets that you cannot physically touch are called intangible assets. An example of this could be education - one can invest in learning/educating themselves and this, in turn, could enable you to build a #career and/or make smart decisions to grow your #wealth.
Remember, that not all assets go up over time. Some assets such as investments or gold or your house may go up over time. But others such as a car or the clothes you buy will likely go down. When buying assets, always assess if that asset will go up over time or will go down. And #buy or "#invest" accordingly
Next we look at #liabilities
ayu ecosystem #kids #education