It’s all about the Benjamins baby.

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Presentation transcript:

It’s all about the Benjamins baby. Finances, 2.02 It’s all about the Benjamins baby.

Asset Something tangible that you own Ass (both your booty and the kind that is livestock)

Current Asset An asset that is has a shelf life of less than one year or is quickly converted to cash Greenhouse supplies Milk Cash Checks Life insurance

Non Current Asset An asset that has a shelf life of more than one year or takes time to turn into cash This usually loses value after a year (depreciates) Land Mobile Home Tractor Goat

Liability Debt, something you owe Cell phone bills Drug dealers Bullies

Current Liability You owe the debt this financial year January through December’s cell phone bill This year’s mortgage This year’s bills

Non Current Liability Debts that you owe after this year Mortgage (30 year mortgage, you got to pay that forever) Car loan Engagement ring

Net Worth Total assets minus total liabilities How much you are really worth Determines if you can get a loan, buy a car, buy a house, how much financial aid you get

Equity Same thing as net worth Fancy way of saying how much “real” cheddar you got!

Debt to Equity Ratio How much do you owe versus how much do you have This is really what loan officers will look at Also, if you are trying to rent an apartment they will look at how much money you make versus how much you spend

Inventory What you got! A list of all of the items that you own Shops will close for inventory Stores will have “inventory reduction” sales to get rid of some of their stock

Depreciation Losing value Anything with a shelf life of more than one year ( anon current asset) will depreciate The moment you drive a new car off of the lot, it depreciates Once something becomes an antique or something like land will not depreciate

Let’s do some math, dawg. If I have $20 in cash and a $50 check from grandma, how much do I have in non current assets? If I have $50 in my savings bank, a $100 life insurance policy, and I owe $50 to the mob, what is my net worth?