Examples of Assets, Liabilities and Equity

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A debit card

asset

Car that's fully paid off

asset

Emergency savings

asset

House fully paid off

asset

Pre-paid Credit Card

asset

Stock in a company

asset

cash

asset

college savings plan

asset

retirement account

asset

Car insurance

liability

College tuition you owe

liability

bank fees because account is overdrawn

liability

cell phone bill

liability

internet bill

liability

mortgage on house

liability

owing money on a credit card

liability

paying for lunch daily at school

liability

Liability

The portion of the car the bank owns

Equity

The portion of the car you have paid

The amount you have paid on your house

equity


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