LIABILITIES & ASSETS
If you want more money in your life, focus on building & owning assets. If you want less, or, no money in your life, focus on collecting liabilities. The primary difference between assets & liabilities can be understood by children who are able to calculate basic math.
- Assets, such as; valuables (vehicles, jewelry, collectables etc.), real estate property, stocks & bonds, a business that provides useful products & services can work to fill your bank account with money.
- Liabilities such as; credit cards, long/short term loans, mortgage, and other debts can work to drain money from your bank account.
Remembering the benefits of an asset, and, the harms of a liability, will work to guide your decisions. When you’re about to spend money on something, ask yourself, “am I spending my money on something that will financially support & grow me, or, am I spending it on something that will financially hinder & drain me?”
Decisions control actions, and actions shape one’s life. Whatever you desire in life, is generally produced by the decisions & actions you take.