How to make money work for you – the rules of success from the book of a financial genius

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June 20, 2022, 08:04 | Business

The struggle for success has its own rules.

How to make money work for you — rules of success from the book of a financial genius

Entrepreneur Robert Kiyosaki shares the secrets of time and people management and answers the question that torments millions: how to make money work for you, informs Ukr.Media.< /p>

"Rich Dad, Poor Dad" — one of the most famous books about financial literacy in the world. Its author, Robert Kiyosaki, changed the approach to money of a million people. The investor, entrepreneur and writer talks about the difference between an asset and a liability, between poverty and bankruptcy, comparing two parents: his own, an educated but financially needy professor, and his friend's father, a successful, savvy and financially literate man who made it on his own financial well-being. The book “Rich Dad, Poor Dad” was sold in more than 109 countries and remained on the bestseller list for more than six years.

Don't work just for money

Try to work for free, this will open your mind to new earning opportunities, and will not force you to focus only on the amount of salary. Paradoxical as it may sound, the problem with most employees is that if they are underpaid, they come to ask for a raise or look for a new job. Fear and greed are the driving forces that force a person to participate in the “rat race''. Looking for a new job, asking for a promotion, quitting and looking for a job again. Therefore, the rich do not work for money, they work for potential and initiative.

It is important to get financial education from childhood

Why are accountants and financiers not always rich, even though they work with money every day? There is a big difference between the ability to count money and financial literacy, which neither children nor adults are taught. Financial literacy will help to understand and control the situation and the market even in the most difficult economic situations and crises. The courage and determination of rich people is primarily based on awareness. Savvyness, the ability to analyze and invest will bring benefits in competent financial management and help multiply your fortune.

Start working for yourself

Basically, the middle class works for an employer or the state, they are dependent on their superiors and company owners. If you really want to become rich, then start working for yourself. Choose a field of activity that you are interested in, because interest is half the battle. Do not remain subordinate to others, this will not allow you to maximize your financial opportunities.

Be sure that you are worthy of being rich

If, at the thought of earning, doubts creep into your head, and you ask yourself: “Am I worthy of being rich?”, then this is already a bad sign. To be rich in life, feel rich in your mind. Don't scroll through the phrases: 'I need to save', 'I can't afford'… Think in terms: I'm worthy of earning money, I'm successful at it, and I can afford everything , whatever I want.

Don't be afraid to change jobs and gain new experience

It seems to some that stability is one of the main components of big earnings. Rich dad said that you shouldn't be afraid to change jobs, and switching from one specialization to another will help broaden your horizons. The broader your mind and the more experience you gain in different positions, the easier it will be for you to make money in completely different areas. Learn to manage various processes, acquire skills in managing money and people, and most importantly, yourself and your time.

Increase assets and reduce liabilities

Try to minimize your liabilities. If you are not yet firmly on your feet, then forget about things that require expenses and do not bring any profit (try to get a profit from almost everything). A car that costs too much to maintain, an apartment or a house that you don't rent out, for example. Assets will always be your income, which you can grow by properly layering your investment in business, investments, stocks or real estate that doesn't sit idle.

Be proud of your failures< /strong>

You should not be afraid of losses or unsuccessful investments. Fear is a natural phenomenon, but the sooner you learn from your mistakes and 'get your bearings', the more likely things will go uphill. Don't treat losing as a tragedy. Only a person who has not made more than one attempt to win can not lose.

Get rid of the fear of losing money

If you want to get rich, then get used to the idea that constant investments are the only way to make money. Do not be afraid to take risks and treat money as a commodity that sooner or later will start working for you. If you are worried about losing money and are afraid of 'burning out', then unfortunately you have much less chance of getting rich than someone who is willing to lose a few times before winning big.

Cut expenses at first

Looking rich and being rich are not the same thing. Having apartments, cars and houses does not show your real level of income. Especially if expensive movable or immovable property was bought with the last money or on credit. A person who gets rich first cuts expenses, puts money into investments or business development and only after you have free funds working for you, you can call yourself rich.

Love money

Perhaps this is the most important rule. You are not tired of talking about money, you are burning with desire and want to study everything related to finance. If you are not very interested in money and everything related to it, then, most likely, you should not devote your whole life to enrichment and capital increase. Especially if numbers, analytics and economics make you feel bored. Love of money is the key to success.

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