Keep your daytime job, but start buying real assets, not liabilities. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
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A liability takes money out of your pocket.
An asset increases the value of your money.
The cash flow patterns of poor, middle-class, and rich people differ based on their assets and liabilities.
Income Sheet:
Income: Money earned from various sources.
Expenses: Mone...
It’s a statement wherein you can jot down your assets and liabilities.
Your net worth gives an overview of your financial situation at this point. It is the difference between what you own and what you owe.
Your net worth is positive if your assets exceed your liabilities.
A negative net worth is when your liabilities are greater than your assets....
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