Many people are interested to make fake projected balance sheet for CC Limit sanction from bank. They show maximum assets and minimum liabilities. But, in reality, we have limited assets and maximum liabilities. With this, your mind will unrest all the time. Instead of this, you can spend your time to convert your all liabilities into assets. Yes, it is possible. There is only simple rule, find the reasons why are your liabilities are more than your assets? Then remove all such reasons. One by one, I am explain the reasons and trying to help you to remove them.
1. Loan
Your balance sheet is full of loan. You have taken the loan. Loan has increased your liabilities. For removing this reason, you must start to remove your loan as soon as possible. For this, if you are job salary is limited to do so, you can part time sales work. For example, you can sell my ebook and earn money. Same you can use to remove your loan. With this, you can convert your liabilities into assets. If you will be determined to remove your all loan, you will see only assets in your balance sheet.
2. Investment in Gambling Assets
You have invested your all money in gambling assets like lottery tickets or shares. There is no information when its value will decrease. So, if you invested all money, try to sell the share and invest in some secured assets.
3. Getting Losses in Business
If you are getting loss in business, it means, your business is not giving the value to public. Either start to give the value to public or leave that business and start other business. Otherwise, your assets will not for converting your liabilities into assets.
4. You Do Not Know the True Definition of Assets
True definition of asset is , there is any resource which brings the money in your pocket, even you do work or not. For example, you have building, you have given it on rent, you got rent every month. But if you have the building but you are using it own purpose and you did not given it on rent but you are paying electricity bill, maintenance cost and other cost. It will be your liability. Because it will decrease the value of your capital for spending all such expenses.
5. Loss Suffering Assets or Not - Performing Assets
If you have some assets which are loss suffering or not performing assets, you must sell them as soon as possible. For example old vehicle. Whose output is less but expenses are more. So, sell it as soon as possible. Or use it less. In case of bank, some loan holders do not return the loan on the time with interest. So, bank should sell it to other debt specialise company who is expert for getting loan.
6. Fear of Loss in Trading
If you are fear of loss in trading, it is sure, you will face the loss in trading. Once, you face the loss, this circle will repeat. If you want to convert your liabilities into your assets, you must remove your fear of loss in trading, you can do with my tips. Read it at here.
7. Do not Having the Habit of Saving and Re-Investing
If you do not save and reinvest your profit into business, your business plant will die soon and you see only the plants of liabilities in it. But, if you have intelligence, you can again give water to such plants by making the habit of saving and re-investing, it will help you to convert your liabilities into assets.
Bonus Tips
1. Be Careful when You Invest Your Money
2. Accept Outcome of Your Business. If there is loss, get the lesson from your mistake and try to stop your mistake and next time, you will get profit.
3. Feel always Happy whether you have liabilities and assets. It is art of living life.
4. keep Patience. All your liabilities will not convert within one day, it will take time.
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