Asset
Anything you own that has value or can produce value.
An asset is something you own that's worth money — cash, investments, a home. Its opposite is a liability, which is money you owe. Net worth is simply your assets minus your liabilities, and building assets over time is what growing wealth really means.
Explain it to your kid
"Something you own that has value."
Related words
🐷
Try MemoryBank free →A new money word every week
MemoryBank's Weekly Recap teaches your kid one money word at a time, tied to what their own account actually did that week.
MemoryBank is a display and education tool, not a financial advisor. Nothing here is investment, tax, or legal advice.