Financial Lemons

  All over social media, when looking into the financial section, there is always talks about investing or specific investments. The sudden urge to go in blind can attack anyone, but do not fall prey to it. Investments have their risks too, but if you fully understand what you are investing into - then it can work in your favor.  Research Investment is defined as: "the outlay of money usually for income or profit : capital outlay " (Marriamwebster)  Outlay is defined as: "... an expenditure we make to support an activity. It is the total cost of achieving an objective, acquiring something, or carrying out a decision. Put simply; it is the amount of money we spend on something." (marketbusinessnews) Short version: The amount you spent off of achieving an objective, in some cases results in acquiring something. Capital outlay is defined as: "...refers to the sum of money spent by the company to invest in the purchase of the capital assets such as plants, machine...

  Do You Really Understand Liabilities And Assets? At the start of my much more rigorous journey to reaching my goal of becoming wealthy, I realized that I did not fully understand what assets and liabilities were. And as I asked around, I realized that there was fluctuation in the general definition of both. So let's get a bit of a deep dive into both, with examples to further help with our understanding of both terms. Terminology Research: Liabilities  The general definition is: "something for which one is liable" (Marriamwebster) The definition of Liable it: "obligated according to law or equity" (Marriamwebster) Equity in economic terms is defined as: "the process to be fair in an economy that can range from the concept of taxation to welfare in the economy. It also means how the income and opportunity among people are evenly distributed." (WallStreetMojo) Examples of Liabilities Bank Debt Mortgage Debt Credit Card Debt Taxes Owed  Assets Is define...

  The biggest mistake that anyone can make is to not truly research the process to reach a goal. Even I am guilty of this, reaching for a goal that I am not sure I truly understand. So let's get to the big question before going further into the depths of financial literacy. What Is Money? “Money is a commodity accepted by general consent as a medium of economic exchange.” But let's break that down ever further, to have a fully rounded understanding of what the definition of money actually is. There are key words to look at in this definition, such as: commodity, medium, exchange. Terminology: Commodity is defined as:  "Commodities are goods or raw materials that can be bought, sold, or traded." (Master Class) Medium: (In the form of an exchange)  Is “something commonly accepted in exchange for goods and services and recognized as representing a standard of value” (Merriamwebster)  Is “A medium of exchange is an element of standardized value used to settle the exchang...