VIDEO + BLOG: https://leagueofhustlers.com/ep104-assets-vs-liabilities/
If you want to build wealth or maintain a rich lifestyle you must understand the basics of assets and liabilities. Have you ever seen someone gain a wealthy lifestyle, and soon after loose everything? That is a classic result of having too many liabilities and not enough assets. Having a solid understanding of these basics concepts with good strategic implementation will place you in a position to build wealth for years to come. Let's go get it!
LoH Challenge:
Take a look at your current situation. Make a list of all of your assets, and beside it make a list of all of your liabilities. Remember, anything that brings money into your pocket consistently can be considered an asset. Things that take money out of your pocket are liabilities. Once you build your list, begin working on removing liabilities or transforming them into assets. Your objective is to make sure that you have more money coming in from the asset column, than you have going out in the liability column. Start building your list of assets. Review and update your list often. Maintaining healthy assets is a major key for wealth building.
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P.S. - Please excuse the audio quality and any imperfections. We're new to this and getting better every episode. Grow with us...
