{"id":1733,"date":"2021-11-04T21:06:51","date_gmt":"2021-11-04T13:06:51","guid":{"rendered":"https:\/\/rexy.cafe\/?p=1733"},"modified":"2021-11-28T01:39:24","modified_gmt":"2021-11-27T17:39:24","slug":"your-house-and-car-are-assets-or-liabilities","status":"publish","type":"post","link":"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/","title":{"rendered":"Your House and Car Are Assets or Liabilities?"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_51_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-65efa2d767c01\" ><span class=\"\"><span style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-65efa2d767c01\"  type=\"checkbox\" id=\"item-65efa2d767c01\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/#Your_House_and_Car_Are_Assets_or_Liabilities\" title=\"Your House and Car Are Assets or Liabilities?\">Your House and Car Are Assets or Liabilities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/#Rich_Dad_and_Poor_Dad\" title=\"Rich Dad and Poor Dad\">Rich Dad and Poor Dad<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/#Assets_vs_Liabilities\" title=\"Assets vs. Liabilities\">Assets vs. Liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/#Is_Student_Loan_Considered_as_Liabilities\" title=\"Is Student Loan Considered as Liabilities?\">Is Student Loan Considered as Liabilities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/#Start_Investing_in_Assets_and_Yourself\" title=\"Start Investing in Assets and Yourself\">Start Investing in Assets and Yourself<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_House_and_Car_Are_Assets_or_Liabilities\"><\/span>Your House and Car Are Assets or Liabilities?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In school, the teacher taught us in Accounting that Houses\/Real Estate or Cars must be categorized under Asset. Because we all know that famous accounting formula<\/p>\n\n\n\n<p><a href=\"https:\/\/emojikeyboard.org\/copy\/Right-Pointing_Triangle_Emoji_%E2%96%B6%EF%B8%8F?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u25b6\ufe0f<\/a> Asset = Liabilities + Equity \u25c0\ufe0f<\/p>\n\n\n\n<p>In real life, Robert Kiyosaki has a different point of view about assets. Referring to the book \u300a<a href=\"https:\/\/www.amazon.com\/Rich-Dad-Poor-Teach-Middle\/dp\/1612680194\" target=\"_blank\" rel=\"noreferrer noopener\">Rich Dad Poor Dad<\/a>\u300b<br>What are assets? Assets put money in your pocket regularly and it only costs you a little time to manage your assets. <br>What are liabilities? Liabilities take money out of your pocket. No matter it&#8217;s a regular or a one-time thing. <\/p>\n\n\n\n<p>Now, let&#8217;s wear the new glasses of assets and liabilities to look at our houses or cars. If we rent them out to others, they are assets. Because they generate income for us. If we&#8217;re using them, then it&#8217;s liabilities because we pay house tax, gasoline, and maintenance fee for both.    <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rich_Dad_and_Poor_Dad\"><\/span>Rich Dad and Poor Dad<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>I believed that this book\u300a<a href=\"https:\/\/www.amazon.com\/Rich-Dad-Poor-Teach-Middle\/dp\/1612680194\" target=\"_blank\" rel=\"noreferrer noopener\">Rich Dad Poor Dad<\/a>\u300b is the first money management book for many of us. It was published in&nbsp;1997 and brought us the concept of 4 quadrants which are E \/ S \/ B \/ I. Back at that time, it was mind-blowing for many people. It simply tells you the opposite of what an accounting teacher was teaching us at University. <\/p>\n\n\n\n<p><a href=\"https:\/\/emojikeyboard.org\/copy\/Star_Emoji_%E2%AD%90%EF%B8%8F?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2b50\ufe0f<\/a>E stands for Employee &#8211; trade time for money<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Star_Emoji_%E2%AD%90%EF%B8%8F?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2b50\ufe0f<\/a>S stands for Self-employed  &#8211; trade time for money <br><a href=\"https:\/\/emojikeyboard.org\/copy\/Star_Emoji_%E2%AD%90%EF%B8%8F?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2b50\ufe0f<\/a>B stands for Business owner &#8211; People work for you (OPT)<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Star_Emoji_%E2%AD%90%EF%B8%8F?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2b50\ufe0f<\/a>I stands for Investor &#8211; Money work for you (OPM)<\/p>\n\n\n\n<p>It divides people into 4 quadrants and the key factors here are OPT and OPM. OPT stands for Other People\u2019s Time and OPM stands for Other People\u2019s Money. When you are in the E and S quadrants, the amount of active work determines income. You have to trade your time for money, once you stop and the income stream stops as well.<\/p>\n\n\n\n<p>But income doesn&#8217;t depend on active work when you are in the B and I quadrants. You can use OPT and OPM to help you. The most common example is investing in STOCK or Real Estate. You get paid yield dividends or the rent from tenants periodically. They definitely categorized as assets.       <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Assets_vs_Liabilities\"><\/span>Assets vs. Liabilities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Examples of assets are &#8211;<\/p>\n\n\n\n<p><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Stocks <br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> ETFs<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Bonds<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> REITs<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705 <\/a>Digital Assets &#8211; Blog \/ YouTube \/ IG \/ TikTok<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705 <\/a>Real estate for rent<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Dropshipping Business<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Print On Demand Business <\/p>\n\n\n\n<p>Examples of liabilities are &#8211; <\/p>\n\n\n\n<p><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Real estate for one&#8217;s&nbsp;own&nbsp;residential purposes (Mortgage debt)<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Car for one&#8217;s&nbsp;own&nbsp;commute purposes <br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Bank debt<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Taxes owed<br><a href=\"https:\/\/emojikeyboard.org\/copy\/Check_Mark_Button_Emoji_%E2%9C%85?utm_source=extlink\" target=\"_blank\" rel=\"noopener\">\u2705<\/a> Student loan <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_Student_Loan_Considered_as_Liabilities\"><\/span>Is Student Loan Considered as Liabilities?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to \u300a<a href=\"https:\/\/www.amazon.com\/Rich-Dad-Poor-Teach-Middle\/dp\/1612680194\" target=\"_blank\" rel=\"noreferrer noopener\">Rich Dad Poor Dad<\/a>\u300b context, a student loan is taking money out of your pocket and that would be considered a liability. However, I believe that it is definitely not A Liability. Just like Warren Buffett once said.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>The best investment you can make, is an investment in yourself. The more you learn, the more you earn.<\/p><cite>Warren Buffett<\/cite><\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/09\/Warren-Buffet_001-1024x571.jpg\" alt=\"Warren Buffet_001\" class=\"wp-image-966\" srcset=\"https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/09\/Warren-Buffet_001-1024x571.jpg 1024w, https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/09\/Warren-Buffet_001-300x167.jpg 300w, https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/09\/Warren-Buffet_001-768x428.jpg 768w, https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/09\/Warren-Buffet_001.jpg 1305w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The tricky part is that YOU WILL NOT make more money than you can cognize. It is the root of your money blueprint. The only way to change THAT is to learn. Thus &#8211; the more you learn, the more you earn. The appearance\/result(how much money you make) will only change after you change your cognition(root) about money. <\/p>\n\n\n\n<p>That&#8217;s why I never stop learning and reading. We cannot control the quality of courses we took but we can think this way : Why do we hesitate to sign up for a $100 USD course that might be helpful but turn around immediately buy a $1099 USD iPhone in the blink of an eye? <\/p>\n\n\n\n<p>If you don&#8217;t know what I am talking about, you can click here &#8211; \u300a<a href=\"https:\/\/rexy.cafe\/millionaire-mind-intensive-online-course-review-6-jars-system\/#Root_And_Result\" target=\"_blank\" rel=\"noreferrer noopener\">Millionaire Mind Intensive Online Course Review | 6 Jars System<\/a>\u300b  <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Start_Investing_in_Assets_and_Yourself\"><\/span>Start Investing in Assets and Yourself<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Today, we can basically learn everything from the Internet. Open Google and YouTube and enter the keywords that you&#8217;re looking for. Boom! Many Google search results and tutorial YouTube videos are there for us to be self-taught. All we gotta do is spend our time. <\/p>\n\n\n\n<p>It doesn&#8217;t necessarily have to be &#8220;financial assets&#8221;, it could be digital assets. Like I am creating this my own blog that might generate passive income for me in the future. Stop thinking how to make a perfect plan and wait for this and that. Just take actions right now.<\/p>\n\n\n\n<p>It&#8217;s now or never!!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your House and Car Are Assets or Liabilities? In school, the teacher taught us in Accounting that Houses\/Real Estate or Cars must be categorized under Asset. Because we all know that famous accounting formula \u25b6\ufe0f Asset = Liabilities + Equity &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/rexy.cafe\/your-house-and-car-are-assets-or-liabilities\/\"> <span class=\"screen-reader-text\">Your House and Car Are Assets or Liabilities?<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":1,"featured_media":1789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[14,12],"tags":[],"modified_by":"Rexy","_links":{"self":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts\/1733"}],"collection":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/comments?post=1733"}],"version-history":[{"count":5,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts\/1733\/revisions"}],"predecessor-version":[{"id":1781,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts\/1733\/revisions\/1781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/media\/1789"}],"wp:attachment":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/media?parent=1733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/categories?post=1733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/tags?post=1733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}