Are your assets working for you?
Mar 12, 2024
An asset is a thing that you own. Some assets will make you money and some assets will cost you money.
Some assets are long term - you can borrow money to buy them, and you will own them for a long time.
Some assets will be owned for a shorter period of time.
Here's some examples:
- Your house
- the money in the bank
- a car
- a caravan
- a boat
- an investment property
- shares
- your superannuation money
- a computer
- furniture
- your phone
- your health
- your life
Most assets will be able to be covered by insurance - that is, you can pay someone to help you get a new one if yours breaks or is destroyed. Paying insurance reduces the risk that we have taken to invest in our asset.
When I run through the module in Couples Money Mentoring for assets, we look at the following questions:
What assets are making you money?
What assets are a joy to your life?
What assets are costing you money?
What assets are causing you stress?
After answering these questions, you can often determine what you want to do with your assets - keep, sell, put more money in to improve and enhance them, or just let them be.
Come and see what the facebook group is all about, get more tips and join in the conversation.
Stop wasting money today!
It's time to have more fun with your money.
The More Money Challenge allows you to:
- know where your money goes
- prioritise your spending
- have better conversations with your partner about money
Download the guide to get started now!
We hate SPAM. We will never sell your information, for any reason.
