Assets and liabilities

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Avatar for Ferabel
3 years ago

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If we want to be successful and rich, we most know the difference between assets and liabilities. It is rule number one and it is the only rule. This may look very simple,  but many people don't have the idea of how important this rule is. Many people struggle financially because they can't  differentiate the different between an asset and a liability.


What most rich people do is to always acquire assets. The poor and middle class think they acquire assets but they ended up with a liabilities. In my own view, the house you want to be living is not an asset.


An asset always put money in your account/ savings while a liability always take money from account/savings.


​​​​Thanks for reading and stay tuned for more. Your feedbacks and contributions are appreciated.

https://www.uptrennd.com/post-detail/assets-vs-liabilities~Njk2MjU0

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Avatar for Ferabel
3 years ago

Comments

So true,you just spoke fact you are on point. When you save money is usually scarce

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3 years ago

I agree with you some ways and did not I another way

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3 years ago

Well depending on how you want to see it... Your house could be an asset. If you rent it out, that'd mean it's bringing you returns on a yearly basis atleast. That's a good one.

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3 years ago

We must be wise and chase assets instead of liabilities

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3 years ago

I will rather go for assets and not liabilities

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3 years ago

Well it's still an asset as its better than a rented apartment and can be sold if any desperate needs arise

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3 years ago

Liability is different from assets

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User's avatar Ara
3 years ago

Liability? Lol really funny

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3 years ago

Y we ah, that was well said. Everyone especially the poor and middle class should understand this before getting too much liabilities for themselves while thinking it's an asset.

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3 years ago

Liabilities will only weigh and drag you down, don't be a liability on anyone, rather be an asset

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3 years ago

Liability will do you no good than to reduce from the little you already had down, being an asset is the best way to succeed.

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3 years ago

Thanks for sharing I understand now about the asset and liability

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3 years ago

Great, I really learned something from his, thanks alot🤗

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3 years ago

Thanks for this article man, gonna learn more from this, cause am saving it now.

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3 years ago

Hmm..... You said well, thanks for this article you really helped me alot

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3 years ago

This is something people should consider very insightful

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3 years ago

Nice information for up coming business person

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3 years ago

This is very helpful. I am one step wiser today. Anticipating your next post.

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3 years ago

This is indeed something I for one I'm not going to keep liabilities around

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3 years ago