Have good financial literacy. - Deepstash
Have good financial literacy.

Have good financial literacy.

An asset is something which can generate income, whereas a liability is anything that has costs. Your house is a liability as it may have cash value, but it doesn't bring you any money unless you rent it You can become rich by accumulating assets that can generate value example, a blog, local online shop etc..

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adityamulukuri

19 | Generalist, Content Creator, Student at Christ University. Stashing about entrepreneurship, self-help, spirituality and the most interesting stuff I read.

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Similar ideas to Have good financial literacy.

Assets And Liabilities

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...

When To Take On Debt

Debt is a liability unless you use it to finance income-generating assets. Don't take on debt for anything that does not increase in value over time.

Suitable forms of debt include buying real estate as a rental property, investing in your business, or a student loan.

Asset investing

It is anything that will increase your wealth without personal labor.

  • Businesses. This is a broad asset class. You can buy dividend-stocks on the market, and then the companies will pay you a share of the profit. You can start your own business. You can buy into othe...

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