Quote from: GeorgeJohn on Today at 06:19:32 AM

Quote from: mvdheuvel1983 on August 05, 2023, 03:01:13 PM

Quote from: Y3shot on July 30, 2023, 11:42:58 AM

Buying liabilities, things that doesn't have value five years from now. Many save but even when money is saved, it is done to spend and not to invest and the only way to become rich is to invest and not by savings. So , invest in assets and not liabilities.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

Before we can conclude that a car is a liability it depends on what you use the car for, some times when we use a car for business and the business is bringing a passive income that car is not a liability.

The car we should conclude as a liability is car we know the only function of the car is for a casual movement, so when you are using a car for a casual and it doesn't add any function to your weekly and monthly income I believe that it's call a casual movement, let me say in generally that car can be casual to you depends on how you use the car.

Yes, it all depends on needs. Sometimes there are people who use cars for business needs and there are also those for convenience and to save on public transportation costs, so we cannot conclude that cars are the reason, in fact I think the opposite.
In my opinion, buying something that is not useful in life, only fulfilling desires without any effect on needs or convenience is a barrier to stabilizing our economy, and that cannot be said because everyone will be different.