ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Things that You Should Know about Your Money

Updated on August 14, 2012


In terms of money, banks and other money agency will love you. They like to make business with you and sometimes take that money away from you. Isn't that a surprised? Definitely not. When it comes to money, everybody will comes to you when your pocket is full. But when you are short- this is the time when you know who are your real friends and who are not.

Asset and Liability


When it comes to asset and liability, this is a serious subject. It is something that we should seriously taking into a matter of great consideration. Lets define this terms one by one, shall we?

Asset, in simple terms is anything that gives you money.

Aren't we all love things that give us money? Examples of assets are:

  • Investments. What are your investments? Your precious gems and jewelries can be term as your investments. Who knows that in the long run, you will sell it when you are in a tight budget. Mutual funds , stock, bonds and other things such as your expensive collections: paintings, and others are examples of your investments.
  • Your jobs is your asset. It gives you your monthly income that help you pay your bills.
  • And your profitable business.

Your asset is your livelihood. It is your bread and butter that you should be aware of and be thankful for.




Explaining Liability


Liability in layman's term, is something that takes money away from you. And this is the serious matter that you should be careful about, because it takes away your asset.

Now, what are your liabilities?

  • Your car

Although, car is a necessity, it is undeniable that it becomes a liability because you have to spend much money for the gas, pay for your monthly insurance and also you have to pay for the mechanic when your car is in trouble. This is the reason why you can't save. Instead of putting your money into savings, you are spending it to your car.

  • Vices and addiction

What are your vices? Shopping? Gambling? These are expensive vices. Shopping is the number one weakness for most women. And we all know that gambling will leave us begging and knocking on our neighbor's door.

Eating out often is also one liability that takes away your asset. Fast food centers and restaurants are the one who get rich and not you. Spending too much money everyday for your lunch break isn't helpful. If you put that money into savings, you will be amazed how much money you will save at the end of the month.

  • Expensive hobbies and recreational activities.

Do you watch movies often? How much money do you spend by watching movies in a month? Having said this, it raised much awareness on my part. I loved movies and I liked going to theater. But, the money I have to spend for the movies might help to grow my savings. So- when I calculated my movie spending habit, I was shock how much money I lost just by paying tickets.

What about you? What are your hobbies? There are two types though: Hobbies that takes away money and hobbies that gives you money. So better choose the one that gives you money. It is a wise choice, isn't it?




Three Practical Things to Remember to not overspend:

  1. Know the things that you need to buy. It all comes down to your need. Which means, if you want it but you don't need it. Then, do not buy it. Your need should come first before your wants.
  2. Know your monthly income. Then, spend less. Do not spend more that exceed to your monthly income.
  3. Lists all the things that you spend. Have a mini-notebook and try to list all those spending habits for the month. Calculate and evaluate, in order for you to know what are the things that you don't need to buy in the coming months.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)