Full of liabilities, this is where almost 90% of people end up. So full of liabilities that they can’t dig themselves out of the hole and when you can’t dig yourself out of the hole the only thing you can do is dig deeper. This is where most people are at full of these things and when they get big enough their can’t seem like mammoths- unbeatable. These things are called liabilities and they can be all summed up with one simple word. DEBT. More particularly Bad debt (which I talk about more largely in another article). Also to make things even more simpler bad debt can be described as one thing two. They are carnivores which will devourer you mentally and physically if you let them. So how do you define liabilities? Simple, liabilities are usually things that are tangible that take money from your pocket, and expenses are the immediate result of liabilities. So when something takes money from you pocket over time it is the liability when money is going out of your pocket it is expenses. So overall is your liability immediate is the expenses. So when you get a mortgage of 130,000 dollars on a house minus the down payment of course.

The mortgage it’s self is the liability along with its 130,00 dollars (Overall). But the amount it takes from your pocket every month or so is the expense from the liability (Immediate). See how the carnivore bad debt works? It works by eating you if you let it and if you let the carnivore grow or worst yet multiply (by getting different kinds of bad debts) it’s just going to take a bigger bite out of you. Don’t get overwhelmed the first thing to do is stop digging before you turn it around so work your hardest to not make more liabilities and more debt. That way you’ll have less expenses (I talk about expenses in its own article). So let me explain to you more. Liabilities are things that the middle class buy the most and they are the exact opposite than assets.(I talk about assets in there own article) Because liabilities take money from you not put it in like assets do. Liabilities are things like your house (even without mortgage), cars, cable, and all the other bills that you find eating you like a carnivore. So what to do? Like I said the first thing is to stop digging.

Stop COMPLETELY not partly but COMPLETELY!! SO NO credit cards for the use of anything but bad debt. Why? Because credit cards as well as other liabilities are monetary-acid. They may let you buy what you want but afterwards your money that you actually have will either do 2 things: 1 a disappearing act or 2 they will melt from the acid. Either way you pocket will suffer and when the carnivores (Bills) are hungry and they don’t have anything to eat they start to eat you. Either way it wont end well. Which is why liabilities keep people from being successful and out of “The Endless Cycle” (Which I talk about in its own article). By having these things you won’t be able to stop working and become financially free for almost every one that has a job works for there bills not for themselves. They work because thy are enslaved y there own finances, constantly paying other people first and working not only for there boss but for there banks for there credit cards for there loans and some of everything else. They are about 90% of our population in the richest country in the world. To get into the 10% you will need to first stop digging the reverse then buy or make asset.

Either way we as a whole need to becomes rich not only for ourselves but for the economy to. The more rich people there are the more jobs there will be for the middle class don’t work for other middle class people they work for rich people. So when you become rich and invest in businesses and open businesses becoming and entrepreneur (I talk more about entrepreneurship in it‘s own article) know that you are not only serving yourself but those around you just be sure not to become a rip-off like some rich people are. Matter of fact that is how the rich got that way in the first place, by serving others, for when you know the right people, and have the right people serving you and vise versa, it becomes easy to become rich. Especially with financial education and experience and ASSETS not LIABILITIES then and only then will you see yourself prosper.