The poor and the middle class acquire liabilities that they think are assets. The low and middle class, because they want to appear as people that have also made it, spend money on liabilities that they think are assets. It is therefore necessary that you know the difference between an income-generation and wealth-creation assets and what liabilities are; and ensure that business funds are expended on acquiring assets. An asset brings money into the purses; while liabilities take money out of the pockets. You need to understand clearly: is what you spend money on demanding more money for it to be in good condition or it could generate money itself and leave you or your business with surplus? How you handle your personal money will influence how you will treat business fund.
Trending
- 2024 Hajj: Shettima, Sultan of Sokoto, others, set to grace NAHCON stakeholders’ summit
- Tinubu greets Minister of Information on birthday
- Workers’ Day: Sanwo-olu promises to pay new minimum wage
- Tinubu felicitates Minister of Interior, Olubunmi Tunji-Ojo, on birthday
- May Day: Gov. Adeleke flaunts achievements, says we are all comrades
- Lagos-Calabar Highway Project: FG begins compensation payment
- EFCC violated rights of Yahaya Bello’s children – Kogi Youths
- I won’t dash your hope on new minimum wage, Oyebanji assures Ekiti workers