This category was started this due to continuous personal finance struggles that we keep facing. It is an extremely critical aspect of life that should never be taken for granted. Together we will learn and share, hoping that someone somewhere will learn from our experiences and make wise decisions. To start us off is Robert Kiyosaki. From his book Rich Dad Poor Dad.
There are numerous insightful lessons that can start you over. We will create a series of posts as we read chapter after chapter. If you can, grab a copy and read along with us. We will be glad to hear from you.
Kiyosaki had the privilege of having two dads, one poor and the other one rich. It gave him the opportunity to see life from the perspective of two different people with two different mindsets.
Below are the different statements from the two Dads concerning the same issue.
|Poor Dad||Rich Dad|
|The love of money is the root of all evil||The lack of money was the root of all evil|
|I can’t afford it||How can I afford it|
|Pay more in taxes to take care of the less fortunate||Taxes punish those who produce and reward those who don’t|
|Study hard so that you can find a good company to work for||Study hard so that you can find a good company to buy|
|Forbade talking about money||Encouraged the subject of talking about money at the dinner table|
|Play safe when it comes to money, don’t take risks||Learn to manage risk|
|House is the largest investment||Liability|
|Government should take care of you Vlued leave days paid pension
, pay rises, retirement plans, medical benefits, sick leaves, pension, job protection. etc.
|Total financial self-reliance , spoke against the entitlement mentality and how it created financially weak people|
|Taught how to write good resume in order to get good jobs.||Taught how to write business plans to create employment|
|Never be rich||Referred to himself as rich|
|Study hard, become a professional and earn money||Understand how money works and make it work for you.|
From the listed differences, it is clear that your way of thinking directly affects the cause of action you take which later impacts the general outcome. Eg by saying I can’t afford it, your brain automatically stops working. By saying how can afford it, your brain is put to work. Which was the difference between rich dad poor dad
Just as your body becomes stronger and more healthy with physical exercise, your brain also needs mental exercises to help you grow your wealth. The stronger your brain gets, the more money you can make.