Assets are things that you buy that make you money or have a part in making money, like an investment or a car that will get you to the office quicker giving you more time to make more money.
Liabilities:
Liabilities are things that you buy that DON'T make you money, like a carpet or a nice plant in your garden.
Liabilities are usually more popular because they look fancier, they often give people short lived joy while taking your money.
Depending on how you use certain things, they could fall into either the asset or the liability title. For example, if you buy a "Trading for dummies" book and leave it on the shelf, it would then be a liability as it will not help increase your capital but still cost a fraction of the capital. However, if you use the book to learn how to trade and end up making money, that book would be your asset.
Liabilities vs Assets | Ecency
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