ECCLESIASTES 11:2 , 11:6 Put your money in different Investments....Sow your seed in the morning and in the evening NEVER let your hands be idle....for you don't know which one will prosper
I live in my own house and understand it isn't an asset. Even if I don't owe anything on it. However it does save me money, reduces my expenses and provides security
Hi Irene. That's very true. We like to let all home owners to know this. Unless you rent it out it does not put money in your pocket. You pay bills and all repairs on it so money moving out none in.
Guys, anything that takes money out of your pocket is a cost or expense and not a liability. An asset is anything you OWN and a liability is anything you OWE! Some assets appreciate while others depreciate; some assets generate cash while others do not generate cash. Aome assets are useful while others are of value. Some assets have a liability (money owed) against them and others do not! A car, the house you rent, anything you own, regardless of whether you acquired it with cash or on loan, are all assets. The money in your bank or in your wallet is also an asset (cause you own it) Once you continue to define an asset as something that gives you money and a liability as one that takes money from you, you are lost at the first step! Financial literacy starts with understanding that small fact!
@@RichardKusiima In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash. (Wikipedia) I don't plan on converting my house into cash. Therefore I don't really consider it an asset in my net worth tracking.
@@Justchilling8261 In any terms, an asset is anythinh you own; in accounting terms, you will then have current and long term assets - your house, like it or not, is an asset. Now if you took a loan to acquire it, it still is an asset but with a liability (the loan) against it. Plus, if you know how networth is calculated (What you OWN - What you OWE), unless you are telling me your house is owed to someone else, your house will fall under what you OWN, an asset. Hoping that helps!
This guy is informative but I wonder why I have watched almost four interviews about him talking about same scenarios and same story can we get more from the usual coz now I can even predict some of his answers and what he will say . I was eager to pay for centonomy course but I feel sceptical now
Hi Marianah, thank you for viewing our content regularly and for this comment. We acknowledge there would be some examples that may be repeated but the aim is to make it as authentic as possible. Our programs are taught buy industry professionals in their various modules thus not one trainer giving their views all the time. Our programs are life transforming for all that come attend and implement the teachings as shown in the many testimonials o our pages. We appreciate your query and would love to have you join us to change your thought on our teachings.
Hi Beatrice. Thank you for this. As we advise you need to budget for this. Like have some money aside for such as you may know the amount regularly asked for.
ECCLESIASTES 11:2 , 11:6 Put your money in different Investments....Sow your seed in the morning and in the evening NEVER let your hands be idle....for you don't know which one will prosper
Powerful ❤😂🎉😢😮😅😊 needed financial information and knowledge
Glad it was helpful!
Always a pleasure
Wow thanks alot guys.
Our pleasure!
nice....indeed honest discussions.
well curated
Thank you
I can't get enough to hear from centomony teaching so impressed
Awesomeness
My two black ties 💪
I live in my own house and understand it isn't an asset. Even if I don't owe anything on it. However it does save me money, reduces my expenses and provides security
Hi Irene. That's very true. We like to let all home owners to know this. Unless you rent it out it does not put money in your pocket. You pay bills and all repairs on it so money moving out none in.
Guys, anything that takes money out of your pocket is a cost or expense and not a liability.
An asset is anything you OWN and a liability is anything you OWE!
Some assets appreciate while others depreciate; some assets generate cash while others do not generate cash. Aome assets are useful while others are of value. Some assets have a liability (money owed) against them and others do not! A car, the house you rent, anything you own, regardless of whether you acquired it with cash or on loan, are all assets. The money in your bank or in your wallet is also an asset (cause you own it)
Once you continue to define an asset as something that gives you money and a liability as one that takes money from you, you are lost at the first step!
Financial literacy starts with understanding that small fact!
@@RichardKusiima In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash. (Wikipedia)
I don't plan on converting my house into cash. Therefore I don't really consider it an asset in my net worth tracking.
@@RichardKusiima excellent Richard. So true
@@Justchilling8261
In any terms, an asset is anythinh you own; in accounting terms, you will then have current and long term assets - your house, like it or not, is an asset.
Now if you took a loan to acquire it, it still is an asset but with a liability (the loan) against it.
Plus, if you know how networth is calculated (What you OWN - What you OWE), unless you are telling me your house is owed to someone else, your house will fall under what you OWN, an asset.
Hoping that helps!
Wonderful and well curated. Thankyou for the deep prescience, now I can work on a value conversation.
Glad it was helpful!
This guy is informative but I wonder why I have watched almost four interviews about him talking about same scenarios and same story can we get more from the usual coz now I can even predict some of his answers and what he will say . I was eager to pay for centonomy course but I feel sceptical now
Hi Marianah, thank you for viewing our content regularly and for this comment. We acknowledge there would be some examples that may be repeated but the aim is to make it as authentic as possible.
Our programs are taught buy industry professionals in their various modules thus not one trainer giving their views all the time. Our programs are life transforming for all that come attend and implement the teachings as shown in the many testimonials o our pages.
We appreciate your query and would love to have you join us to change your thought on our teachings.
👌
Can you share any personal finance reading materials please. Books, articles particularly kenyan written
Hi we have our very own Makinc Cents book by our founder Waceke Nduati. Others if you look at them online you will find.
On top of that you can also consider, Winning the Game of Debt by Alex N Mwangi
Moneywise by Rina Hicks
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How do we manage black tax
Hi Beatrice. Thank you for this. As we advise you need to budget for this. Like have some money aside for such as you may know the amount regularly asked for.
Thank you so much for the response. I will attend the full training to understand budgeting
Hello, I would like to be a financial couching, please help me to get online financial couching and where I can get a certificate