How to build wealth in low income?

welcome to the RichDaD community. today's topic is how to build wealth in low income.

Last article was on How to start with no money?

and Today I'm Telling about how to build the wealth with low income.

So firstly You must need a job or do a job, as i tell you on my previous article. So building Money is not so hard thing just need a financial management knowledge. So building wealth you must need to know the 'Assets' and the 'liabilities'.
So here is to know the difference between 'Asset' and 'Liability'.

So These words Assets and liabilities is different from that commerce studies.

So "Assets" means the Economic Resource that owned by a specific individual that later on convert into cash, securities, inventory etc. as short,  asset means any resource that makes money or give you money.

And "Liability" means, in simple words debt, loss or expense from a specific financial or business operation.

Thats why rich people getting more rich because of saving or investing in Assets. And poor people getting poor by expense in liabilities.

So once there was 2 friends Sam and jack. Both are employee at same job, they both have same salary. But Jack buys unnecessary thing things like, doing shopping, getting a bike by loan, partying etc... And sam Put his money in Asset building resources like, stock, mutual funds, invest in education to learn more from his field, so he can earn more money in future so thats he invested in Assets, And jack invest in liabilities..

Some years later Sam become millionaire and Jack gives reasons for his low salary income and argue himself for that.

So here you see that if you want to be rich invest in Assets, and here it nothing matters that how much do you earn. it matters where do you putting your money in Assets or in liabilities.