Greetings and salutations… In our previous post, we talked on assets and liabilities. Today, we would go more in-depth to assets.
We established the definition of an asset as something or someone that puts money into your hands, while listing your mind, skills, job, business/investment as assets. Your mind is an asset because you train it to add value to your situation, environment or world and that value will be compensated. This compensation goes beyond the cash in your pocket, purse or bank account. This compensation includes the relationships and opportunities that come your way as a result of the value-added from your mind. Believe me, they are greater than cash.
The importance of your financial education cannot be over-emphasized because that is what feeds your mind and makes you financially intelligent. Let’s say you own a car which you drive to work and every other activity on a daily basis. It is a liability. Even if you decide not to use it, that vehicle deteriorates in value before your eyes. But imaging you register that vehicle for paid adverts to be put on it, thus converting that vehicle into a moving advert. Then you have turned that liability or something that takes money from you into an asset or something that puts money into your hands. Remember, not just money but new relationships and opportunities. That is financial intelligence.
Look within and around you, what are your assets?
Food for thought. Interesting piece, Thanks.