We all deal with assets and liabilities in our personal lives. Please define and discuss with the class: . asset liability Next, give an example using your personal life, of an asset and a liability. Now, you should have a better understanding of the "use of your money": Discuss the following with the class Decisions are made with our personal finances to obtain the items we need to take care of ourselves and our families. What options do you have to decide where your resources should be spent or do you have options in your personal life? Support your response with specific details