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Asset
A resource owned by an individual or organization that has economic value, such as cash, investments, and property.
More Details
An asset is anything that has value and can be owned. In the context of personal finance, assets are typically things that can be converted into cash and used to generate income or wealth.
Example
If you have cash, stocks, bonds, real estate, or any other investments, these are examples of your assets.
Related Terms
Insufficient Funds
A situation in which an individual or institution does not have enough money in their account to cover a transaction or withdrawal.
Share Certificate
A share certificate at a credit union represents ownership of a deposited amount for a fixed term, earning interest.
Overdraft Fee
A charge that is assessed when a check or electronic transaction is processed for more money than is available in a checking account.