Common Examples of Liabilities that you may have include:–
1] Credit card Debt:- This is Debt that you have accumulated through using Credit Cards.
2] Auto Loans:- This is Debt that you have taken out to purchase a car.
3] Mortgages:- This is Debt that you have taken out to purchase a home.
4] Student Loans:- This is Debt that you have taken out to pay for your education.
5] Medical Bills:- This is Debt that you have accumulated from medical expenses.
6] Personal Loans:- This is Debt that you have taken out for Personal expenses, such as home renovations or travel.
7] Business Loans:- This is Debt that you have taken out for your business.
Remember, Liabilities can add up quickly if you don’t manage them carefully.
It is Important to keep track of your Debts and make a plan to Pay them off Over Time. This will help you reduce your liabilities and achieve Financial Freedom.