blog

JAN 22ND

Spend time vs Invest time
Spend money vs Invest money

Where do you stand?

Do you lend money or lend time?

Think.

And to whom do you give? Do you receive anything?

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Richardo…

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blog · blogging

MONEY MONDAY: SECURE THE BAG

MONEY MONDAY:

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“SECURE THE BAG”

secure the bag

Secure the bag is a term in the hip-hop culture, famously coined by DJ Khaled.  The meaning is to secure your money.  In life for you and for your family, always secure the bag…

Securing the bag is one of the most notable things to do in life.  When going for a new job, a promotion, education, investment, taking on new ventures of value, making sure you have something concrete before committing something that will take your time and focus.

Make sure you are out there securing the bag, my advice to you.  Happy Monday!

Here is the definition by Urban Dictionary:

An expression use to describe the act of taking/obtaining advantage of the situation and keep something of value.
1. Play your cards right and secure the bag.
2. Be an intern and work full-time hours. That’s how you secure the bag.
3. I cut him/her off but I secured the bag.
4. Friend 1: He/she said he/she wants to make it up to me.Friend 2: There’s your chance to secure the bag.

Secure The Bag

 -=-

Thanks for viewing,
Rik

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business · money · Money Monday

Money Monday #5 – Know Your Assets and Liabilities

Various Federal Reserve Notes, c.1995. Only th...
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Welcome to another edition of #MM # Money Monday, your weekly guide to better money management and more.

The Money Tweet: “#mm #MoneyMonday ”Know Your Assets & Liabilities” it’s a key essential in the progress of reducing debt & cost while gaining profits & value ”

Today’s post is about, knowing your Assets and Liabilities.  I lot of people don’t consider tracking their money, and pay attention to thing that may cost them money over time.  When you think of money, you should also think of value and investments, costs.  Those are key factors within accounting business and that shows how well a business is doing and managing itself.

For example, a car may be looked at as an asset based on it purpose for it holds value and is considered a property. If you use your car for productivity such as ease of travel, business motives that involves making more money, then a car is a great asset and a worthy investment.  But once a car is constantly breaking down or you a bad driver and the car constantly is getting damaged and the cost super exceeds the actual value of the car, then its costly liabilities and will eventually land you in the poor house.

Another example, your savings or checking account with funds within is considered an asset because it is cash or a money value, but it can be set as an issue if you have little funds within or overdraw your account and you are paying fees back to the bank for overdrawn amounts.

So please look through your expenses, properties, investments, savings and much more, I would recommend monthly or at least quarterly to define and asset what is an asset and what is a liability and if they have changed over time.  To know if you are not in debt or you are seeing profits over time, the equation is simple.  Liabilities – Assets = Profit/Loss.  If it a positive number of course its a profit, but if it is a negative number that is a loss.

Thanks for tuning in to Money Monday
“Remember to always get your money right.”
Richardo

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