Do you ever checked your personal balance sheet

@rkrish (3003)
India
September 8, 2008 1:40am CST
Hi friedns, We work for money and for somebody money works for them...And ulitimately with money we make assets and liabilities...so did you ever checked your personal balance sheet...Mine has some networth but really i need build my real assets more .... do you ever checked your pesonal balance sheet .... What do you call as your huge asset and big liability... For me my big asset is REAL ESTATE and my big liability is MY HOME.
1 response
subha12
@subha12 (18441)
• India
8 Sep 08
No i do not do so. may be at times i think I have no real assets. also i ahve not earned enough in life to consider these things.still i do not understand why to you the real estatte is asset and liability is home.
rkrish
@rkrish (3003)
• India
8 Sep 08
even i am an accountant, but in personal...if you see Asset has to generate income ...so my real estate gives me money as it grows by own and i dont have any debt on that... But home here has mortagage, so it gives me a major expenses like repayment to bank,taxes,maintenance and so on... when it comes out to mortage i can call it as a asset. My friend its nice to know who dont have created any libility so i would say plan to buy some real assets...which gives you income ....not expenses
rkrish
@rkrish (3003)
• India
17 Sep 08
Hi have you got about the real assets concept