This is a cornerstone of most financial foundations and is imperative to create a stable financial portfolio. Unfortunately, it is often misunderstood and can become a huge financial sinkhole in a well intended financial strategy. A liability is the opposite of an asset, therefore, it creates an upside down effect to "Financial Independence;" it creates "Captivity." Even the Lord's Prayer teaches: "forgive us our debts as we forgive our debtors." There is a huge message in that passage of Matthew.
MSA specializes in "DEBT FREE" strategies. It is our recommendation that we all maintain a CASH PURCHASE mentality, even in the event of an emergency; hence the reason for the need of an emergency fund. We also believe a dollar spent could have been invested - so frugal living, established budgets and paying the least amount of interest to creditors is the difference between living "Financially Independent" or NOT.
See below for our FREE RECOMENDATIONS for Financial Industry tools that may help you establish good Liability Management Habits.
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