Discover the difference between assets and liabilities in this explainer video you will learn what is an asset, examples of assets, how profit determines whether something is an asset or liability, examples of liabilities and how you can start looking at the things that you buy to start implementing better money habits.

I learnt about assets and liabilities from Robert Kiyosaki (author of the book Rich Dad Poor Dad). In short an asset is something that puts money in your pocket whereas a liability is something that takes money out of your pocket. Anything can be an asset or liability, it depends on this equation sum formula. (Cost + profit = equity) vs (cost vs profit = loss)

There is a different mindset between people that are rich and people who are poor. People who are considered to be poor tend to buy liabilities thinking that they are assets whereas rich people buy assets and use the money earned to pay for their liabilities. Are you buying liabilities thinking they are assets? The book rich dad poor dad changed my life, and led me to research assets which I then started a blog, create my own business selling products, and started my entrepreneurial journey.

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