Your three money statements
What you own, what you earn, and where your cash goes — explained simply.
In the app: 2 lessons · 1 quick check
Key points
1. Balance sheet and income statement
- Balance sheet: what you own − what you owe = your net worth. A snapshot on one day.
- Income statement: income − expenses = your profit (what you saved) over a month.
2. Cash flow is different
- Cash flow tracks actual money moving in and out. A loan brings cash in, but it is not income — you owe it back. Repaying a loan sends cash out, but it is not an expense.
Treating borrowed money as income is how many people overspend.
The full lesson is in the Kopkad app
Worked examples in naira, quick checks to test yourself, and the step-by-step guide to doing it, free with your account.
Read more elsewhere
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Full lesson + tools in the Kopkad app
See your own money statements
Wealth Builder turns what you log into an income statement, a cash flow and a balance sheet.
- Full lessons with real examples
- Quick checks as you learn
- Wealth Builder tools to do it
Free to join. Find the lessons under Learn → Financial Literacy at app.kopkad.ng and in the Android app.