Assets and liabilities differ hugely. If you want to become financially successful, you need to understand the difference between what is your assets and what your liabilities are. You own a house, you spend money to pay for mortgage, you pay for maintenance and insurance, it does not generate you any income, it is your liability and not the asset. However, if you have rented out your house and you generate rent, it will bring you money, thus, it is an asset.