One can only earn millions if he is a person who is financially literate. It’s not secret Rich People train their children for riches while the poor unknowingly to be poor. Very rare you will find a person who has achieved success from rags to riches.
Trusted with being #1 Personal finance self help book of all time, with this book Robert Kiyosaki helps his reader learn what the rich teach their kids and the view point many of us miss.
To be Financially literate is as much important as it is to get graduated, else you would be only earning money when you work. You must learn to make money work for you, not the other way round. Let’s find out what we can learn.
1 Money School.
While we are loaded with a tons of homework in school on math, science, history and others, our schooling fails to give us even the basic of how money works even when we achieve adulthood. This is the root of all problem.
There is no proper place to learn about money. Rich People teach their kids about this at home while the poor and middle class hustle to meet daily needs.
So as a parent or guardian its your job to pass on your knowledge to your children to help them understand how the whole system works.
2 The power of How?
There are basically 2 types of people, one who thinks “I cant afford it, let’s not buy this” and another one who thinks “How can I buy it? “.
This is no secret the one who thinks the later may find ways to earn more money as he understand the power of how and finding ways to generate a source of income.
3 Entitlement VS Self-Reliance.
The day one accepts entitlement in his behavior, he is towards a path downhill, sooner or later he will meet a dead end.
Only through self-reliance one will not face a single day without money crunch and will find one way or another to meet his financial needs.
4 Thoughts and Actions.
The major difference between being rich and poor are the way thoughts and actions they take in their life.
Poor one may say things as, ” Study hard find a good job”, ” I am not rich because I have kids “, ” Dont take risk, play it safe”
Although the rich says, ” Study hard to create jobs”, ” I must be rich as I have kids”, ” Learn to manage risk”
Hope you understand how much difference the mindset makes in such situation.
5 Financial Education
I would like to quote the exact same lines from the book, only those will help you understand what Robert Kiyosaki actually meant.
” Money is one form of power. But what is more powerful is Financial Education. Money comes and go but if you do have education about how money works, you gain power over it and can begin building wealth “
Way Forward: If these 5 life-saving advice has grabbed your attention please read his book Rich Dad Poor Dad which dives deeper into methods and ideas to understand how money works and make it work for you.
The article is totally based on the Book by Robert Kiyosaki. As a blogger, I support his work and thank him for his valuable contribution taking no credit of his original work.
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