When managing your finances, you should also take into account any assets you have. An asset means the monetary value of your property. Property, on the other hand, means things that you own.

Property can be used as collateral for credit or other debt. The property most commonly used as collateral is a housing company share or real estate.

Sometimes it may be necessary to sell property and use the proceeds obtained to pay debts or repayments on them. Such assets include, for example, securities, holdings, mutual fund savings accounts, shares in a decedent's estate or motor vehicles.

Published 31.12.2018