When does Zakat become due?

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After one lunar year, on that due-date, one sees if one has nisab . If so, zakat is due on all of one’s monetary assets (cash, gold, silver, trade goods, etc.). If one does not have nisab, then no zakat is due.
For each subsequent year, on that due-date, as long as one has nisab, one pays zakat on all of one’s monetary assets: whether saved from the previous year or acquired since.