Aim: Can I create a personal balance sheet

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Presentation transcript:

Aim: Can I create a personal balance sheet Aim: Can I create a personal balance sheet? Do Now: What do these terms mean to you: – assets, liabilities and net worth?

Assets What you owns: Cash Bank Accounts – checking and savings Investments – stocks, bonds, mutual funds Personal Property – car, jewelry, clothing, electronics Money owed to you Other

Liabilities What you owe: Credit card bills Loans Outstanding bills (cell phone, etc) Money owed to other people Other

Net Worth =Total Assets – Total Liabilities All the things you own – less all you owe to others

High Net Worth Teens Total Assets – Total Liabilities All the things you own – less all you owe to others Lorde Willow Smith Justin Bieber Kendall & Kylie Jenner