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Is your home or house is an asset or liability? | Con_San Show|Ep 165
90% of middle-class people think that your home is an asset but is it an asset or liability.
If you can know the difference between an asset and a liability you could differentiate:
Asset:
Things that put money in your pocket.
Liability:
Things that take money form your pocket.
Many people think that their house is the biggest asset in their entire life.
Building a home and living in it saying "home sweet home" is an awesome feeling but when you can get enough returns from the assets that you have in your life you can own a house house.
Saving your hard earned money to buy or build a home by mortgage it to the bank and working for 10 years to clear a debt is one of the bad trap that most people fall in.
Your house is not an asset for you where as it is an asset to the bank which your mortgage your property.
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By Sanjay90% of middle-class people think that your home is an asset but is it an asset or liability.
If you can know the difference between an asset and a liability you could differentiate:
Asset:
Things that put money in your pocket.
Liability:
Things that take money form your pocket.
Many people think that their house is the biggest asset in their entire life.
Building a home and living in it saying "home sweet home" is an awesome feeling but when you can get enough returns from the assets that you have in your life you can own a house house.
Saving your hard earned money to buy or build a home by mortgage it to the bank and working for 10 years to clear a debt is one of the bad trap that most people fall in.
Your house is not an asset for you where as it is an asset to the bank which your mortgage your property.