UNDERSTANDING THE LAWS THAT GOVERN MONEY – THE DIFFERENCE BETWEEN ASSETS AND LIABILITIES:
- It is extremely important to understand the difference between assets and liabilities.
- The poor acquire liabilities while the rich acquire assets.
- An asset is a possession that brings income into your pocket, income that also appreciates.
- A liability is something you own that requires expenses on your part to maintain.
- A liability is also something that depreciates.
- The cars we drive and the houses we live in are liabilities because of the expenses required for upkeep.
- To be truly rich, you must have more assets than liabilities.
FOR THE LOVE OF GOD, CHURCH AND NATION
By Pastor Sunday Adelaja
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