According to Robert Kiyosaki ,Author of Rich Dad Poor Dad ,best selling book define Assets as something that put money in your pocket , and Liabilities that take money out your pocket . basing in this definitions ,Fake assets are assets we they put money in our pocket in reality they are liabilities (take money out of our pocket due to Depreciation,expenses in their management ,etc,,,,,)
Sometimes ,we are stuck in rat race due to lack of knowledge in what we prioritize and due to poor spending habits ,Here we are going some of the things we spending money on ,but they are leading us in extreme poverty while we are thinking we own something valuable
1.Cell phones :we spend airtime everyday on cell phones,and our phones depreciates the moment we leave the shop
2.Cars:we spend money for gas and maintainance
3.Television and Radio : those electronic items consume electricity and they depreciates quickly
4. Jewelries and other beauty materials :those different items we spend a lot of money on them
5.Cloths : many people have many cloths while many of them they don't wear them
the lists are long ,what we want to teach,is to think twice bifore buying any thing because many times we spend money on things we don't really need, on any thing you want to buy think about its use ,its role, how much money you gonna spend,is there any replacement with low cost