For individuals, debt is a comprehensive expression of their economic level and social relations, so what does personal debt mean? What does personal debt include? What are the common personal liabilities? Many friends want to know, so let's discuss it together today.

what does personal debt mean?

Personal liabilities refer to the current obligations formed by personal past transactions or events, which are expected to lead to the outflow of economic benefits.

what do personal liabilities include?

Personal liabilities mainly include mortgage loans, car loans, and credit cards generated by daily consumption.

what are the common personal liabilities?

1. Current liabilities

Current liabilities include short-term loans, transactional financial liabilities, notes payable, accounts payable, accounts received in advance, salaries payable to employees, taxes payable, interest payable, dividend payable, other payables, non-current liabilities due within one year and other current liabilities.

General personal current liabilities can include: credit card arrears, short-term consumer loans, stock financing, short-term illness, short-term private loans, etc.

2. Non-current liabilities

Non-current liabilities are also called long-term liabilities. Refers to the debt with a repayment period of more than one year. The main items of non-current liabilities include long-term loans, bonds payable and long-term payables.

For individuals, mortgage, long-term private loan, supporting the elderly, raising children and chronic diseases all belong to non-current liabilities, which are characterized by debts exceeding one year.

3. Off-balance-sheet liabilities

Off-balance-sheet liabilities refer to obligations that are not reflected in the balance sheet of the target enterprise, but are actually undertaken.

generally speaking, it is manifested in human feelings, future diseases and unexpected adverse events in the future. Off-balance-sheet liabilities generally flow out to future economic benefits.

That's all for personal common liabilities. I hope it will help you. Warm reminder, financial management is risky and investment needs to be cautious.