Assets and Wealth
Hiya kids and welcome to another week of Financial literacy
How do we know if a person is rich? If they are carrying a designer bag, can we safely say that they are wealthy?
How do we know if a person is rich?
How do you think people become wealthy?
Today, we are talking about assets and wealth and luckily I do not have to talk about this all by myself
When it comes to determining how rich someone is, we tend to look at what they have. These things are called assets.
So we don’t just look at the money in their account, we also look at the cost of their house, the cost of your car. We even look at the investments you have made.
Then we add all these assets together, and wahla, we are able to determine how much a person is worth. In other words, how wealthy a person is.