# Assets and Liabilities

*Everyday Money — Finicade finance glossary*

Assets are what you own that has value — cash, investments, a home; liabilities are what you owe — loans, credit-card balances, a mortgage. Subtract one from the other and you get your net worth, the single number that tracks whether you're getting ahead.

**Related terms:** [Net Worth](https://finicade.com/glossary/net-worth), [Debt](https://finicade.com/glossary/debt), [Balance Sheet](https://finicade.com/glossary/balance-sheet)

**Taught in:** Charter Climb — Balance Sheet & Cash Flows

Source: https://finicade.com/glossary/assets-and-liabilities