__
The accounting
equation describes
this__
reality in easily understood
terms.
___Income
(Money coming
in)
_-
Liability
(Money
owed)
_=
Equity
(Net
Worth)
One can only spend
more money than is
coming in by either borrowing from someone
else or borrowing from previously acquired
"Equity" which in turn depletes one's "Net
Worth."
Only buy things that
are either essential or
will increase in value.
______________________________________
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