Assets and liabilities

Hello friends,
I am very new to blogger so if I make any mistake please ignore.  I came here because I am very fond of writing,  reading and learning as well. I wish to learn from you also. This is my first blog post. Please suggest me something to improve myself and my blogger.

So come to the point as my blog name 'how to make money' tells that this blogger is all about making money and to become rich. Friends I am going to tell you about assets and liabilities. Assets are those entities we earn something from and liabilities are those entities which are expenditures for us. So we should spend on assets not on liabilities.

Let us take  an example Ramesh and suresh are two friends they work for the same company,  for the same position and for the same salary. Whenever they get salary at end of every month Ramesh spend some part of his money on assets say stocks in market, bonds, shares, real estate etc. But on the other hand suresh spends his salary on luxurious things like expensive smart phones, branded cloths, on flats in which he lives, cars etc. But these things are not giving him future gain. These are liabilities because as time passes he has to maintain everything he buy for some cost he would has to spend. But on the other hand Ramesh spends on assets which will give him financial gain after some time. So after some years Ramesh becomes a millionaire and suresh is at that same position where he was.

Assets are those entities which give us gain in future and liabilities are those which do not give us future gain. So always spend on assets not on liabilities until and unless these are not much important.