how are assets and financial resoursces different?

Answer 1

Assets are items that you own, like your house, car, or bank account.

Financial resources are ways that you have of aquiring money. The resources can be related to your assets - selling your car, taking an equity loan against or selling your house, or withdrawing money from the bank. But financial resources can also be family and friends willing to lend you money, even your job is a financial resource because you get paid for working.

Answer 2

An asset in my opinion is anything that you own that puts money in your pocket on a regular bases. A financial resource has value but must be sold to get money.

Example: Asset = Income from renting your car to a friend
Financial resource = Income from selling your car to your friend.