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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
Canceled Check
A physical check that has been paid by the bank and cannot be used again. It may be returned to the payer with their bank statement.
Escrow Funds
Funds that are held by a third party on behalf of two parties in a transaction and are released when the terms of the transaction are met.
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.