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Invest first  before living like a King and Queen Asset vs Liability Son:  Dad, may I speak with you?Dad: Go ahead.Son: ...
12/06/2023

Invest first before living like a King and Queen Asset vs Liability

Son: Dad, may I speak with you?
Dad: Go ahead.
Son: Among all my classmates, I am the only one without a car. It is embarrassing.
Dad: What do you want me to do?
Son: I need a car. I don't want to feel odd.
Dad: Do you have a particular car in mind?
Son: Yes dad (smiling)
Dad: How much?
Son: 200,000 pesos
Dad: I will give you the money on one condition.
Son: What is the condition?
Dad: You will not use the money to buy a car but invest it. If you make enough profit from the investment, you can go ahead and buy the car.
Son: Deal.

Then, the father gave him a cheque of 200,000 pesos. The son cashed the cheque and invested it in obedience to the verbal agreement that he had with his father.

Some months later, the father asked the son how he was faring. The son responded that his business was improving. The father left him.

After some months again, the father asked him about his business
again and the son told him that he is making a lot of profit from the business.

When it was exactly a year after he gave him the money, the father asked him to show him how far the business has gone. The son readily agreed and the following discussion took place:

Dad: From this I can see that you have made a lot of money.
Son: Yes dad.
Dad: Do you still remember our agreement?
Son: Yes
Dad: What is it?
Son: We agreed that I should invest the money and buy the car from the profit.
Dad: Why have you not bought the car?
Son: I don't need the car again. I want to invest more.
Dad: Good. You have learnt the lessons that I wanted to teach you.
- You didn't really need the car, you just wanted to feel among. That would have placed extra financial obligations on you. It wasn't an asset then; but a liability.
- Two, it is very important for you to invest in your future before living like a king.
Son: Thanks dad.

Then the father gave him the keys of the latest model of that car.

MORALS:
1. Always invest first before you start living the way you want.

2. What you see as a need now may become a want if you can take a little time to get over your feelings.

3. Try to be able to distinguish between an asset and a liability so that what you see as an asset today will not become a liability to you tomorrow.

💁‍♀ī¸to those who know the real value of wealth ,congrats

Copied
Accounting Knowledge Concepts

30/03/2023
30/03/2023

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āĻ¯ā§‡ āĻŦā§āĻ¯āĻ•ā§āĻ¤āĻŋ āĻ†āĻ˛ā§āĻ˛āĻžāĻšāĻ° āĻ°āĻžāĻ¸ā§āĻ¤āĻžā§Ÿ āĻ•āĻŋāĻ›ā§ āĻŦā§āĻ¯ā§Ÿ āĻ•āĻ°ā§‡, āĻ…āĻžāĻ˛ā§āĻ˛āĻžāĻš āĻ¤āĻžāĻ° āĻ āĻŦā§āĻ¯āĻ•ā§āĻ¤āĻŋāĻ° āĻ†āĻŽāĻ˛āĻ¨āĻžāĻŽāĻžā§Ÿ āĻ¤āĻž ā§­ā§Ļā§Ļ āĻ—ā§āĻ¨ āĻ•āĻ°ā§‡ (āĻŦā§ƒāĻĻā§āĻ§āĻŋ āĻ•āĻ°ā§‡) āĻ¸āĻ“ā§ŸāĻžāĻŦ āĻ˛āĻŋāĻ–ā§‡ āĻ°āĻžāĻ–ā§‡āĨ¤(āĻ†āĻšāĻŽāĻĻ ā§§ā§¯ā§Ļā§Šā§Ŧ)

āĻ•ā§‹āĻ¨ āĻŽā§āĻ¸āĻ˛āĻŋāĻŽ āĻŦāĻžāĻ¨ā§āĻĻāĻž āĻ¯āĻ–āĻ¨ āĻ“āĻ¯ā§āĻ° āĻ¸āĻŽā§Ÿ āĻŽā§āĻ–āĻŽāĻŖā§āĻĄāĻ˛ āĻ§ā§ā§Ÿā§‡ āĻĢā§‡āĻ˛ā§‡ āĻ¤āĻ–āĻ¨ āĻ¤āĻžāĻāĻ° āĻšā§‹āĻ–ā§‡āĻ° āĻ—ā§āĻ¨āĻžāĻš āĻ¸āĻŽā§‚āĻš āĻĒāĻžāĻ¨āĻŋāĻ° āĻ¸āĻžāĻĨā§‡ āĻāĻ°ā§‡ āĻĒā§œā§‡,āĻ¯āĻ–āĻ¨ āĻšāĻžāĻ¤ āĻ§ā§ŒāĻ¤ āĻ•āĻ°ā§‡ āĻ¤āĻ–āĻ¨ āĻĻā§āĻ‡ āĻšāĻžāĻ¤ā§‡āĻ° āĻ—ā§āĻ¨āĻžāĻš āĻāĻ°ā§‡ āĻĒā§œā§‡, āĻ¯āĻ–āĻ¨ āĻĒāĻž āĻ§ā§ŒāĻ¤ āĻ•āĻ°ā§‡ āĻ¤āĻ–āĻ¨ āĻĒāĻžā§Ÿā§‡āĻ° āĻ—ā§āĻ¨āĻžāĻš āĻāĻ°ā§‡ āĻĒā§œā§‡āĨ¤ āĻāĻ­āĻžāĻŦā§‡ āĻ¤āĻžāĻāĻ° āĻ¸āĻ•āĻ˛ āĻ—ā§āĻ¨āĻžāĻšāĻ¸āĻŽā§‚āĻš āĻŽāĻžāĻĢ āĻ•āĻ°ā§‡ āĻĻā§‡āĻ“ā§ŸāĻž āĻšā§ŸāĨ¤(āĻŽā§āĻ¸āĻ˛āĻŋāĻŽ ā§Ŧā§Ļā§Ļ)

āĻ•ā§‡āĻ‰ āĻ“āĻ¯ā§ āĻ•āĻ°ā§‡ āĻ˜ā§āĻŽ āĻ—ā§‡āĻ˛ā§‡ āĻ¸āĻžāĻ°āĻžāĻ°āĻžāĻ¤ āĻ¤āĻžāĻ° āĻĒāĻžāĻļā§‡ āĻĨā§‡āĻ•ā§‡ āĻāĻ•āĻŸāĻž āĻĢā§‡āĻ°ā§‡āĻļāĻ¤āĻž āĻ˜ā§āĻŽāĻ¨ā§āĻ¤ āĻŦā§āĻ¯āĻ•ā§āĻ¤āĻŋāĻ° āĻ•ā§āĻˇāĻŽāĻžāĻ° āĻœāĻ¨ā§āĻ¯ āĻ†āĻ˛ā§āĻ˛āĻžāĻšāĻ° āĻĻāĻ°āĻŦāĻžāĻ°ā§‡ āĻĻā§‹ā§ŸāĻž āĻ•āĻ°āĻ¤ā§‡ āĻĨāĻžāĻ•ā§‡āĨ¤(āĻ†āĻ¤ āĻ¤āĻžāĻ°āĻ—āĻŋāĻŦ ā§Ģā§¯ā§­)āĻŽāĻžāĻ¨ā§āĻˇā§‡āĻ° āĻļāĻ°ā§€āĻ°ā§‡ ā§Šā§Ŧā§Ļ āĻŸāĻŋ āĻ—ā§āĻ°āĻ¨ā§āĻĨāĻŋ āĻ°ā§Ÿā§‡āĻ›ā§‡āĨ¤ āĻāĻ—ā§āĻ˛ā§‹ āĻĒā§āĻ°āĻ¤ā§āĻ¯ā§‡āĻ•āĻŸāĻžāĻ° āĻœāĻ¨ā§āĻ¯ āĻ¸āĻžāĻĻāĻ•ā§āĻŦāĻžāĻš (āĻĻāĻžāĻ¨) āĻ•āĻ°āĻž āĻ“ā§ŸāĻžāĻœāĻŋāĻŦāĨ¤ āĻ¯āĻĻāĻŋ āĻ•ā§‹āĻ¨ āĻŦā§āĻ¯āĻ•ā§āĻ¤āĻŋ āĻŽāĻ¸āĻœāĻŋāĻĻā§‡āĻ° āĻ­āĻŋāĻ¤āĻ°ā§‡ āĻ•ā§‹āĻ¨ āĻŽā§ŸāĻ˛āĻž āĻĒāĻ°āĻŋāĻˇā§āĻ•āĻžāĻ° āĻ•āĻ°ā§‡ āĻ•āĻŋāĻ‚āĻŦāĻž āĻ°āĻžāĻ¸ā§āĻ¤āĻžāĻ° āĻ•ā§‹āĻ¨ āĻ†āĻŦāĻ°ā§āĻœāĻ¨āĻž āĻĻā§‡āĻ–āĻ˛ā§‡ āĻ¤āĻž āĻ¸āĻ°āĻŋā§Ÿā§‡ āĻĻā§‡ā§Ÿ āĻ¤āĻŦā§‡ ā§Šā§Ŧā§ĻāĻŸāĻŋ āĻ—ā§āĻ°āĻ¨ā§āĻĨāĻŋāĻ° āĻ¸āĻžāĻĻāĻ•ā§āĻŦāĻžāĻš āĻšā§Ÿā§‡ āĻ¯āĻžāĻŦā§‡āĨ¤ āĻ¤āĻž āĻ¨āĻž āĻĒāĻžāĻ°āĻ˛ā§‡, āĻĻā§āĻĒā§āĻ°ā§‡āĻ° āĻĒā§‚āĻ°ā§āĻŦā§‡ āĻĻā§ āĻ°āĻžāĻ•āĻžāĻ¤ āĻšāĻžāĻļāĻ¤ā§‡āĻ° āĻ¨āĻžāĻŽāĻžāĻ¯ āĻĒā§œā§‡ āĻ¨āĻŋāĻ˛ā§‡ āĻšāĻŦā§‡āĨ¤(āĻ†āĻšāĻŽāĻĻ ā§¨ā§¨ā§¯ā§¯ā§Ž)

āĻ†āĻ° āĻšā§āĻ¯āĻžāĻ, āĻ…āĻŦāĻ¸āĻ° āĻ¸āĻŽā§Ÿā§‡ āĻœāĻŋāĻ•āĻŋāĻ° āĻ•āĻ°ā§āĻ¨āĨ¤ āĻ¸āĻžāĻ°āĻžāĻĻāĻŋāĻ¨ āĻŦāĻ•āĻŦāĻ• āĻ¨āĻž āĻ•āĻ°ā§‡ āĻ…āĻ¨ā§āĻ¤āĻ¤āĻĒāĻ•ā§āĻˇā§‡ āĻĒā§āĻ°āĻ¤āĻŋāĻĻāĻŋāĻ¨ ā§§ā§Ļ āĻŽāĻŋāĻ¨āĻŋāĻŸ āĻœāĻŋāĻ•āĻŋāĻ° āĻ•āĻ°ā§āĻ¨â€Ļ āĻ†āĻ° āĻāĻ‡ āĻĻāĻļāĻŽāĻŋāĻ¨āĻŋāĻŸā§‡ āĻ†āĻĒāĻ¨āĻŋ āĻĒā§āĻ°āĻšā§āĻ° āĻĒāĻ°āĻŋāĻŽāĻžāĻ¨ āĻ¸āĻ“ā§ŸāĻžāĻŦ āĻĒāĻžāĻŦā§‡āĻ¨ āĻ‡āĻ¨-āĻļāĻž-āĻ†āĻ˛ā§āĻ˛āĻžāĻš!
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