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Understand the Difference Between Assets and Liabilities
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[QUOTE="Kennysplash, post: 266207, member: 26385"] There is a clear difference between asset and liability. Asset is anything valuable to you and can give you returns. Examples are landed properties, estate, investments, business, people among others. They are very important to you because they bring you profits. Liability on the other hand is anything that takes away your money or resources one way or another. They can be vehicles, people, poor investments and many others. Although many liabilities are actually needed in life, it is best to know the difference between then and assets and minimize them as best as you can. Always work with assets and keep liabilities to the nearest minimum. [/QUOTE]
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Understand the Difference Between Assets and Liabilities
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