Why some people put them selves into deep financial trouble ?

Why some people put them selves into deep financial trouble?

So many people put themselves in deep financial trouble when they run short of income to raise cash they sell their assets . but their personal asssets can generally be sold for only a fraction of the value that is listed on their personal balance sheet. Or if there is a gain on the sale of the assets they are taxed on the gain so again the government takes is share thus reducing the amount available to help them our of debt that is  why I say someone’s net worth is often “worth less ” than they  think.

Start minding your own business . keep your daytime job but start buying real assets not liabilities or personal effects that have no real value once you get them. keep  expence low , reduce liability
and diligently build a base of solid assets for young people who have not wets left home if is important for parents to teach them the different between an assets and liability. Get them to start building a sold assets column before they leave home get married buy a house have kid and get stucks in a risks financial position clinging to a job , and buying everything on credit . I see so many young couple who get marred and trap themselves into a lifestyle that will not let them get out of debt for most of their working years.