Value OF LIFE
Values of L. I. F. E.
LIFE is an acronym for Liabilities, Income, Financial assets, and Expenses.
Values of LIFE is the process of creating a roadmap to achieve your financial goals by evaluating your current financial situation, identifying future financial goals, and developing a plan to achieve those goals.
Considering Liability Income, Expenses, Investments, taxes, and other financial factors, the Values of Life help people make informed decisions with clarity about their money management.
Liability
Refers to the debts or obligations that a person or organization owes to others. It can include things like loans, mortgages, or unpaid bills.
Income
The money that someone earns through their work or investments. It can come from sources like a job or rental properties.
Expenses
The costs that someone incurs to maintain their lifestyle, invest in their future, or run a business. Examples of expenses include rent, utilities, and employee salaries.
Financial Assets
Investments that someone makes with the goal of generating income or appreciation. Examples of financial assets include but are not limited to stocks, bonds mutual funds, and real estate.