Hello hivers, welcome back to my blog.
I attended a Webinar last night and was so pleased at what was taught. Although I joined reluctantly but then, I am super glad I did at the end of the day. I never knew that one could spend their money on liabilities. I know about people who are liabilities because they are always dependent on everything but buying liabilities sounded quite weird to me. But then again, after the class I clearly understood what it meant and want to share here.
First of all, what are liabilities?
In my own understanding, liabilities are branches who depends on the stem for survival. What this means is that these people or things holds no value and cannot accurately offer you anything tangible at the end of the day or even contribute something meaningful in your life.
Spending your money on liabilities means that you buy things that are of no value. Simply put, there are just luxuries that you spend money on. For instance, if you constantly spend your money on shawarma, that means you are spending your money on a liability. What does shawarma bring to the table for you? Absolutely nothing. Now I am not saying that it is not okay to buy some things once in a while. But making it a habit to spend on frivolous things is very bad.
There are so many things you can spend your money on that will yield back profit for you. Now instead of always eating out, why not go to the market and buy some things and cook for yourself. That way, you save money and even eat more to your satisfaction. I know of a friend who loves to buy shoes. She is a shoe freak. Every dime that comes to her pocket, she spends on shoes. That kind of person cannot save or even spend money on something valuable.
Sometimes, before you buy anything you should ask yourself some vital questions like:
-
Do I really need this thing?
-
What value will this bring for me?
-
Is this something I can currently do without?
-
Is the price of this item worth it?
This is not a time to spend money anyhow. Especially in this economic situation that is not smiling at anyone. So before you put your money anywhere, you need to be extremely sure that it is worth it and will be profitable for you.
Thank you for reading and see you again in my next article
Posted Using LeoFinance Beta
