Are You Buying Assets Or Liabilities?

How much attention do you pay to the things you buy?

Will the value of the same appreciate or depreciate? We never think about it.

Generally, value depreciates for most of the items we buy on a daily basis. We keep on buying smartphones, furniture, other household goods and so on.

I have learned a lesson from one of my uncles who taught me to buy assets first. Though it sounds similar to the suggestions given in the book, "Rich Dad Poor Dad" yet being practical is difficult.

I have stopped spending money on non-essential items at festivals. At the same time, I have started investing money in items that appreciate in value in the long run.

Buying assets is difficult and buying liabilities is quite easy.

Next time you buy something fancy, think twice about it.

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