Quote:
Originally Posted by SnoopyCool
What things are considered in net worth? I understand it is Assets - Liabilities, but (for instance) do I assume my vehicle is a liability?
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Everything you own that has monetary value is an asset and all money that you owe is a liability.
As for your car, if you own it outright, it is an asset. If you owe more than it is worth, it is a liability. If you have partially paid it off, it is a little of each.
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Steve
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