[Uty Theo]

If you have money, save it and invest in a capital asset like getting a landed property. An asset would give you more money over time while a liability would make you poorer with time.

[Presh]

It is not as if people would not spend money entirely on liabilities. Some liabilities are actually necessary. Limit the amount of money spent on liabilities.

[Nsikan]

Some young guys I know would just spend money on renting a lavish apartment when a modest accomodation is available for cheaper. I would just be asking how much that home would be bringing to them.

[Uty Theo]

One major liability that people spend money on is dining out and that is completely avoidable. You just have to save that money by making substantial efforts to cook at home.

[augusta]

Yes we need to invest mostly in assets and leave liabilities. Assets will save cost and give us even more money.

[Presh]

That is why if I have a choice to buy a car or a house, I would easily choose a house over a car because it is an asset.

[Uty Theo]

I realized that I was financing a liability with the big house I was staying as a single. Had to go for a smaller, cheaper house.

[Nsikan]

Unnecessary expenses always hit us badly, for the time being we think that we are doing well. But it remain on the way of making habit, and once it becomes habit then we remain nowhere.

Spending on liabilities always look fun on face value, but it would lead to regrets later.

[Presh]

Spending money more on liabilities is just that person being committed to never get tangible returns on his spendings nn

[SHAHID987]

Nowadays we are badly hitting by inflation, so there is no option left to spend on liabilities, because if we started doing this then we may face much more problems.

[Nsikan]

Nowadays, if where I want to commute to doesn't have a direct or indirect financial benefits, I trek to it. Trying to cut out liabilities spending so much from my life.