Assets Vs Liabilities

Assets:

What is Asset?

An asset is something which puts money in our pocket.  It pays us for very little effort or a one-time effort.

Why make Assets?

It is something which is owned by riches not by poor. It pays us even if we not doing any effort, it puts money in our pocket while we are doing anything or enjoying etc. If we want financial freedom then we have to go for making our own assets.

How to make Asset?

Well, there are plenty of types of assets you can make, for example: you can start and automate your business, by automating it means that your business is now able to run even you are not in the company, it runs by employs and managers, now can your business is running even you are enjoying in Dubai you just have to monitor your business a little bit.

Second Example: You can make your own book, courses or videos and sell them on various sites, and then whatever product you made is your asset because you have done one time effort to make it ,now whenever any person can buy it you get money even you can't work at that time, so you get paid again and again.

FACT:

Rich Owns more assets as compared to liabilities!

Liabilities:

What is Liability?

Liability is something which takes money out of your pocket. It sucks money continuously from us.

Some examples of Liabilities are your Home, Car, and Phone etc. Let's take an example of your phone it takes energy and also charge you to do calling or etc, it simply take out money from your pocket, it can't giving you any money so this is a liability, this example is also applicable to other liabilities.

FACT:
Poort owns too much liabilities and zero assets, even they don't know what is an asset!

If you want to know more about Assets And Liabilities or Want to be Rich then here is my personal Recommendation, This book changes a lot of Lifes and gives many people financial freedom.

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I hope you understood everything if you have any queries do let me know by typing down in the comments.

Thank You So Much!