Liabilities You Never saw as Liabilities

Liabilities are things that people do not want to incur as they do not bring in revenue to the users involved but rather, they take away money from the person who incur such. A lot of people do not identify a liability, some take liabilities as asset whereas they are nothing more than a liability. In this post I will be explaining a few things you didn’t know or didn’t consider a liability as a result of the way they sound to you.

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Debt

Debt is the biggest liability any person, organization or country will incur, Debt eats into personal funds and not replace the funds back, debt is one race that people try to get out of both in the civilized countries and in uncivilized countries.

Lack of Financial Education

The inability to have good financial instruments is one liability that a lot of us wouldn’t notice until it has consumed us. The lack of having a good financial education has led to loss of money via pyramid scheme, and other fake investments.

Marketing to Impulse Buy

This is very true, one thing that takes away money from people is marketing that is bent on making you buy everything you see at impulse. This takes money away from your pocket at all the time and it is no doubt that most of the things you impulse buy aren’t needs but wants as the marketing person sold you a want as a need.

There are lot of things that make people lose money beyond buying things that are not bringing in money but taking away money. So many things fall into this category such as knowledge, time wasted and so many more.