Why should you budget on groceries? Grocery shopping is a major expense for many but there are ways you can reduce the cost. Have you seen how much does your groceries cost amount to when compared to your total costs? I have always seen my grandma saving money. One day I approached her and asked …
Using tobacco is a personal choice. Isn’t it? The most known way of using tobacco is smoking. Do you know about Cigarettes and cigars and the economic and financial cost of smoking them? Did you know that Cigarettes and cigars don’t come cheap? Even the government charges extreme taxes on them to discourage their use. …
Let us understand what exactly is financial hardship in the first place. When one has undertaken financial obligations and is unable to pay these obligations, due to a cash shortage, we can say that this person is under financial hardship. Financial hardship can happen anytime, maybe due to unemployment, illness, natural calamities, due to divorce, …
Do you play by the rules of money? Do you know what the 3 rules of money are? Here is another article on the 3 very important rules of money.
Asset vs Liability vs Owner Equity. Do you know what each of these stand for? In our goal of financial freedom, the earlier we come to understand this, the faster we will start the journey to reach our goal of financial independence retire early (fire). We at Your Rich Freedom, keep stressing on the importance of the investing in assets to generate passive income. I am sure you must have come across this many times. In today’s article, we aim to help you understand What is Asset Liability and Owner Equity in personal finance. Let us begin.