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A need-to-know definition the little ones can understand
2. “How much is your bike worth? $1,500?! Okay, also an asset.”
3. “But your student loan is a liability. It’s $5,730 a year.”
4. “So your assets add up to $11,900. But you have a liability of $5,730. Subtract your liabilities from your assets and your net worth is $6,170.”
5. “But you’re priceless to me.”
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