RICH DAD POOR DAD FOR TEENS- THE SECRETS ABOUT MONEY-THAT YOU DON'T LEARN IN SCHOOL!", BY Robert Kiyosaki

How hard do you think accumulating wealth really is?

Like the chapter is titled: “It’s all about cashflow”. However, does the amount of money you generate equate to your perceived wealth? Hmm, I don’t think so.

The same way businesses run off of income statements and balance sheets in order to operate smoothly and ensure they aren’t in a deficit, is the same way you should organize your life. It’s just that for us we call it budgeting, having an idea of how much money you make, how much you spend and how much you keep at the end of it all. Are you in a budget deficit or a budget surplus?

“Increase Your Financial IQ- Becoming Smarter With Your Money”, by Robert Kiyosaki, expounded on the fact that most persons focus on a budget surplus as spending less than you make. In order to double or even 10x (Ha…Grant Cardone) the amount of money being kept at the end of the month, week, day or year is to not only decrease expenses but increase your income. Therefore, you get the best of both worlds. Are you aware of the amount of money you spend on daily basis?

“Most persons will never do great things in the world and more than likely be average, but that doesn’t mean small things can’t be done in great ways.” -unknown. Start small, keep your receipts whenever you purchase ANYTHING, record it and become a bit more aware of how often you grab for your wallet or purse by connecting a small notebook to your wallet using an elastic band. You’ll start to recognize how often you actually reach for that monster in your pants (or handbag).

You should see money as little minions that do as you please or even an employee. The more money you get the more work is being done because 10 hands work more efficient than 2 as long as they are attempting to conquer the same goals. Hence, the more work being achieved with multiple hands is the more money being accumulated and the more money being accumulated is the more helpers you get. Work smarter, not harder.

To reiterate, we should always aim to decrease expenses, increase income/cashflow and become more aware of what we are spending our money on.

Some lines that stood out to me:

• “If you want to be rich, you’ve got to read and understand numbers.” (Hmm, now I’m wondering if I subconsciously love math because I know it correlates to how far I can go in this money-making journey?)

• “The money is gone because it (the cash) has been used to pay the debt on what this person owes. This is the cash-flow pattern of the middle class.”

• “The amount of earned income is not directly proportional to your total wealth.”

• “Rich dad’s financial statement would reflect fewer Expenses in relation to his income. His liabilities box would be much smaller than his Assets box.”

• “If you keep as much in the Assets box as you can and as little in the Liabilities box as you can, you’ll be rich. It’s that simple.”

• “Expenses can be….expensive!”

• “When we truly know the difference between an Asset and a Liability, we’ll be able to start buying real Assets.”

• “Once a dollar gets into your Asset column, think of it this way: That dollar becomes your employee. This is a really great example of making money work for you.”

• “Instead of “I have to have that,” you might also start to think,“Do I have something similar at home?”

And the reading continues…..Well, tomorrow…Later.