Many people were wealthy, but now they don't have enough money to cover their monthly costs or eat three meals a day.
There are many people who have lost their riches and are now struggling financially.
This could be due to a variety of factors that I am considering. One of the key reasons for people who had a lot of money at the time but did not properly save it.
One of the reasons they spend more money on liabilities than assets. Instead of using the money wisely and effectively to generate additional money, they utilized it to purchase liabilities for their daily needs.
Many people may wonder what liabilities are, and who values them over investing in assets. Liabilities refer to unnecessary household items like cars, trips, furniture, pleasures and other luxuries that we do need at all.
That is why it is always recommended to invest in assets that can keep rolling your cash and will undoubtedly provide you with money in the long term.
One of the most common reasons people lose their cash is because they do not look at their money. They don't know where to invest their money properly. How to produce income and which assets are most useful with their money.
These people are always focused on getting to zero rather than moving up. They are content with banks that provide them with easy revenue.
These are the ones who always prioritize comfort over necessity. They would always want to make easy money without putting any effort.
Banks can certainly provide you with passive income on occasion, but keep in mind that inflation is eating away at all of your money.
There will come a day when you will have exhausted all of your passive income from the bank, as well as lost half of your capital due to inflation.
As a result, it is always important to learn how to use money properly, invest, and understand how money works.
I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
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