Question

What term is used to describe an individual's money and personal property?

Answer 1

Its assets. You can thank the question asker. The reasoning is that personal finance is too broad of a subject, while assets, income both fit into that category. and while it couldn't be income because it is a material item, the most specific answer would be assets.

Answer 2

I believe the answer is: Assets

Assets would include everything of value that is owned by a certain individual or organisation. Assets is a critical component to calculate our net worth, which being done by calculating total assets - total liabilities. Examples of assets are cash, land, supplies, receivables, etc.