14
Becoming Money $mart
Building wealth is not as diffi cult as you may think; however, it does not
happen overnight. Building wealth is usually not a matter of luck. It requires
careful planning and wise decision making. Building wealth is possible even with a
moderate income. Right now you may not be thinking beyond college or getting
your fi rst job. However, teens and young adults have a great advantage in their
ability to build wealth. That advantage is youth. Time is on your side.
Example 1-1
If your total assets are $1,785 and your total liabilities are $968, what is your
net worth?
Assets $1,785.00
Liabilities 968.00
Net worth $817.00
You
Do the Math 1-1
If your total assets are $3,940 and your total liabilities are $1,232, what
is your net worth?
Assets __________
Liabilities __________
Net worth __________
Check
Your
Understanding
How is it possible to have a large amount of assets but only a modest net worth?
Previous Page Next Page

Extracted Text (may have errors)


14
Becoming Money $mart
Building wealth is not as diffi cult as you may think; however, it does not
happen overnight. Building wealth is usually not a matter of luck. It requires
careful planning and wise decision making. Building wealth is possible even with a
moderate income. Right now you may not be thinking beyond college or getting
your fi rst job. However, teens and young adults have a great advantage in their
ability to build wealth. That advantage is youth. Time is on your side.
Example 1-1
If your total assets are $1,785 and your total liabilities are $968, what is your
net worth?
Assets $1,785.00
Liabilities 968.00
Net worth $817.00
You
Do the Math 1-1
If your total assets are $3,940 and your total liabilities are $1,232, what
is your net worth?
Assets __________
Liabilities __________
Net worth __________
Check
Your
Understanding
How is it possible to have a large amount of assets but only a modest net worth?

Help

loading