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Listen "Financial Literacy Miniseries – Part 3 | Episode 057"
Episode Synopsis
Understanding Liabilities and Calculating Net Worth
In this episode, Mark continues the financial literacy miniseries by focusing on liabilities and how to calculate net worth. He explains various short-term and long-term liabilities, including credit cards, student loans, auto loans, and home mortgages.
Mark emphasizes the importance of managing credit card debt and understanding the implications of student loans. Additionally, he discusses the structure of auto loans and mortgages and their impact on financial health.
The episode concludes with a step-by-step guide on calculating net worth.
Episode Links:
Mark’s Money Mind YouTube Channel
Federal Student Aid website
Timestamps:
00:25 Recap and Today's Focus: Liabilities
01:14 Understanding Liabilities: Short-term vs Long-term
01:53 Managing Credit Card Debt
08:44 Student Loans
15:03 Auto Loans and Mortgages
21:20 Organizing Liabilities on the Net Worth Statement
21:57 Calculating and Understanding Net Worth
25:15 Conclusion and Next Episode Preview
In this episode, Mark continues the financial literacy miniseries by focusing on liabilities and how to calculate net worth. He explains various short-term and long-term liabilities, including credit cards, student loans, auto loans, and home mortgages.
Mark emphasizes the importance of managing credit card debt and understanding the implications of student loans. Additionally, he discusses the structure of auto loans and mortgages and their impact on financial health.
The episode concludes with a step-by-step guide on calculating net worth.
Episode Links:
Mark’s Money Mind YouTube Channel
Federal Student Aid website
Timestamps:
00:25 Recap and Today's Focus: Liabilities
01:14 Understanding Liabilities: Short-term vs Long-term
01:53 Managing Credit Card Debt
08:44 Student Loans
15:03 Auto Loans and Mortgages
21:20 Organizing Liabilities on the Net Worth Statement
21:57 Calculating and Understanding Net Worth
25:15 Conclusion and Next Episode Preview
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