This week you have learned about assets and liabilities. For this activity we are going to use these topics in a way you can relate to.

This week you have learned about assets and liabilities. For this activity we are going to use these topics in a way you can relate to. We know in simple terms assets are what you own, and liabilities are what you owe. Let us take these two terms and apply them to your personal life. This week we are going to create a document that helps you understand what you have in assets and what you owe in liabilities. If you do not want to submit actual information, please feel free to change the numbers.
Complete a 3-4-page paper answering the following questions. Your paper should be in APA formatting and submitted to the course submission box.
Identify the total amount of assets you have.
Identify the total amount of liabilities you have.
Explain how you can lower liabilities and increase assets.
Describe a 5-year plan to lower liabilities and increase assets.
Analyze why creating a 5-year plan can be beneficial. Do you feel this assignment helped you?

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