Liabilities

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.