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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
Money Market Account
A type of savings account that offers higher interest rates and has higher minimum balance requirements.
Checking Account
A type of bank account that allows the owner to deposit, withdraw, and manage their money using checks, debit cards, and electronic banking services.
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.