I think I've heard it all when it comes to money. When people state that they are happy with their financial situation, know that their problems might fall into one or all three of the following categories.

Spending too much - When I grew touch money - real money. If we had no coins in my pocket just not happening. We had lines of credit, credit cards or overdraft protection. Cash was all I knew. (more…)

Assets are things of value, because it can be exchange into cash. Your assets include real estate property you personally own and some of your financial investment. On the other hands you have debts as your liabilities. For this case, your home is your asset, but the mortgage of your home is your liability.

Assets include real estate, personal property and all your financial assets. (more…)

Introduction

A lot has been said about finances and financial success, however if one does not have a basic understanding of the code used by the professionals you will be lost. In this article we will introduce some of the words and concepts that the non-financial expert often encounters.In order to ensure that the reader enjoy the maximum benefit from this article, the author tried to steer away from the traditional definitions in an effort to make the terms understandable to everybody. (more…)

For a complete look at your financial situation, you should create a personal balance sheet and a cash flow statement. These reports are known as personal financial statements. A personal financial statement is a document that provides information about an individual’s current financial position and presents a summary of income and spending. (more…)