3 Key Things about Money School failed to mention.


By Toby Lane

An impressive resume versus a strong business and financial plan. An entitlement mentality in the place of total financial self-reliance.The decision between saving dollars and investing dollars. Robert Toru Kiyosaki through his award winning masterpiece, Rich Dad Poor Dad explores principals of financial literacy, and financial independence. Getting through this book, chapter after chapter covering various guideposts, you are hit with with a rude awakening, that you know nothing about money. Knowing this i set out to understand money and how it works and here are 3 Key Things about Money School failed to mention.

finances accounting

Everything i learnt in school about money was either hugely exaggerated or plain wrong; explains my failure when it comes to investing and my overzealous expenditure on liabilities rather than assets. I read that the avoidance of money is just as psychotic as being attached  to money, that the rich don’t work for money but the money works for them. Knowing this i set out to understand money and how it works and here are 3 things we didn’t learn about money

1. You are Only Poor If You Give Up

The constant ignorant stereotypes had us believing that the only way to make it big was by endless, strenuous back breaking work, by ignoring our inner passions for lacklustre careers behind a desk, by choosing to chase money instead of our dreams. It is saddening and disheartening to watch as your potential goes up in flames. Another day maybe. A day goes by, a month, a year.

advertise here today

If you can’t make up your mind decisively, then you’ll you’ll never learn to make money. Opportunities come and go. Giving up on the very things that bring sunshine to your existence will have you doubting yourself, questioning the worth of the life you’ve chosen over the one that could have been. Am urging you today to rekindle that fire within you, start that blog, go out and try out for the team, learn that new instrument, network with those working in your related field. Whatever you do, Don’t Quit.

audio strap music

Learn More

2. Knowing the difference between assets and liabilities.

The most important rule when it comes to money. You have to read and understand numbers, what counts as an asset and what counts as a liability. Assets put money in your pocket, liabilities do the opposite. Firstly Robert Kiyosaki states that illiteracy both in words and numbers is the foundation of financial struggle. Secondly the main reason the middle class struggle financially is because as income goes up, their expenses go up but assets don’t grow and liabilities pile up in the form of loans, car payments or mortgages. Similarly hand them more money and the vicious cycle continues, known as the rat race.

couple going through accounts

Therefore buy income generating assets such as real estate, intellectual property, stocking or creating your own product or bonds and watch as your assets pay for your expenses. With every investment, risk is involved and i urge you to make a decision based on facts and sound financial motivation not fear. You can do this.

 

3. Overcoming the fear of losing money

Play to win, don’t play ,not to lose. Playing to win means that it might get uncomfortable. There may be days where progress is little and pressure is staggering. Remember that to make progress, you must first go unbalanced. Be willing to lose sight of the shore, to overcome the cynics that doubt your growth or see no point in it. It often takes courage to not let rumors and talk of doom and gloom affect your steady work. Push on, don’t bury your failures, get inspired by them.

cheking through business graphs

Set new goals, begin new habits, count new blessings, seek new opportunities and work hard on the new changes. This is the mindset of a Billionaire.

Cheers.

 


Leave a Reply

Your email address will not be published. Required fields are marked *