What is asset? What is liability? In a simple man definition, assets are things we buy that will bring money back to us while liabilities are things we buy that we will keep spending money on. Assets put money in your pocket while liabilities take money out of your pocket.

Most Africans especially Nigerians prefer liability to asset.
In the journey of becoming a successful being, it is advisable to acquire more assets than liabilities. The questions here is where does 70% or 80% of your income goes? Asset or liability?

Imagine someone that can hardly feed himself twice daily buying an expensive phones and cars without a specific purpose (just for fashion). This is the different between the rich and the poor. The rich invest in what can fetch them more money (asset) e.g buying land, investing in reputable businesses but the poor out of fashion keep buying liabilities (goods that they keep on spending their little earnings on for maintenance). If 70% or 80% of your income goes to liability then one is preparing for a poor life.

I'm not saying buying expensive phones and cars isn't good but shouldn't be priority over ones investment. Phones and cars maintenance in some countries are expensive. So this may prevent one from saving if one acquire it without a good job.

Conclusion
👉👉Let 70%- 80% of your income goes to asset. It is better to invest ones money on asset than getting liabilities that will bring no income.

👉👉Only acquire liability if the liability will add value to you, your business or improve the income made in your business.

👉👉Only acquire liability after gotten a good investment that is capable of providing enough returns for your home and the liability purchased. maintenances.